Deal sells 56,262,571 shares at $0.0994 each with seven-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 1 – Interleukin Genetics, Inc. arranged a $5.59 million private placement of stock on July 29, according to an 8-K filed Monday with the Securities and Exchange Commission. Ladenburg Thalmann & Co. Inc. is the agent.
The company will sell 56,262,571 common shares at $0.0994 apiece, a 17.17% discount to the July 28 closing share price of $0.12.
Investors also will receive warrants for 56,262,571 shares. The warrants are exercisable at $0.0994 for seven years.
Bay City Capital, New Enterprise Associates and Pyxis Innovations Inc. are among the investors.
Proceeds will be used to accelerate commercialization of the company’s genetic tests, including PerioPredict, which identifies genetic variations that increase the risk for severe periodontal disease, and for general corporate and working capital purposes.
Interleukin, based in Waltham, Mass., is a biotechnology company.
| Issuer: | Interleukin Genetics, Inc.
|
| Issue: | Common shares
|
| Amount: | $5,592,500
|
| Shares: | 56,262,571
|
| Price: | $0.0994
|
| Warrants: | For 56,262,571 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.0994
|
| Investors: | Bay City Capital, New Enterprise Associates and Pyxis Innovations Inc.
|
| Pricing date: | July 29
|
| Stock symbol: | OTCBB: ILIU
|
| Stock price: | $0.12 at close July 28
|
| Market capitalization: | $19.9 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
