By Sheri Kasprzak
Atlanta, June 22 - Ipix Corp. said it has wrapped a private placement for $10 million.
The company sold 4,149,377.59 units at $2.41 each.
The units include one share, an additional investment right for 0.06 of a share and a warrant for 0.44 of a share.
The additional investment rights are exercisable at $2.41 each, and the warrants are exercisable at $3.11 each. The warrants may not be exercised until six months after the closing date.
Olympus Securities, LLC was the placement agent.
Based in Vienna, Va., Ipix develops imaging products for government and commercial uses. The proceeds will be used for sales and marketing.
| Issuer: | Ipix Corp.
|
| Issue: | Units of one share, one investment right for 0.06 of a share and one warrant for 0.44 of a share
|
| Amount: | $10 million
|
| Units: | 4,149,377.59
|
| Price: | $2.41
|
| Warrants: | One warrant for 0.44 of a share per unit
|
| Warrant strike price: | $3.11
|
| AIRs: | For 0.06 of a share per unit
|
| AIRs price: | $2.41
|
| Placement agent: | Olympus Securities, LLC
|
| Settlement date: | June 22
|
| Stock price: | $2.83 at close June 21
|
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