Offering to fund working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 2 - IsoRay, Inc. settled a $2.59 million public sale of stock, according to a press release from lead manager WestPark Capital, Inc.
The company sold 2,817,988 common shares at $0.92 apiece. The price per share is a 3.37% premium to the Dec. 1 closing share price of $0.89.
The investors also received warrants for 563,598 shares.
Proceeds will be used for new applications for IsoRay's Cesium-131 technology and for working capital and general corporate purposes.
IsoRay, based in Richland, Wash., develops brachytherapy seeds to treat prostate cancer.
| Issuer: | IsoRay, Inc.
|
| Issue: | Common stock
|
| Amount: | $2,592,549
|
| Shares: | 2,817,988
|
| Price: | $0.92
|
| Warrants: | For 563,598 shares
|
| Manager: | WestPark Capital, Inc. (lead)
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Amex: ISR
|
| Stock price: | $0.89 at close Dec. 1
|
| Market capitalization: | $24.96 million
|
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