By Sheri Kasprzak
Atlanta, Oct. 27 - IR BioSciences Holdings Inc. closed a second closing of its private placement for $800,000, bringing to $2.45 million the amount sold.
The company sold 80 units of stock and warrants at a price of $10,000 per unit.
Each unit includes 80,000 shares and five-year warrants good for a number of shares equal to 50% of the number of shares included within the unit, at a price of $0.50 per share.
On Oct. 19, the company closed a $1.65 million private placement in which it sold 165 similar units at $10,000 each.
Joseph Stephens & Co. Inc. served as placement agent in the deals.
Based in Scottsdale, Ariz., IR BioSciences is a biotechnology holding company.
| Issuer: | IR BioSciences Holdings Inc.
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| Issue: | Units of 80,000 common shares and 40,000 purchase warrants
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| Amount: | $800,000
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| Shares: | 80 units
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| Price: | $10,000 per unit
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| Warrants: | Equal to 50% of the number of shares in the unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.50
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| Placement agent: | Joseph Stephens & Co. Inc.
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| Settlement date: | Oct. 26
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| Stock price: | $0.25 at close Oct. 27
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