By Sheri Kasprzak
New York, Dec. 29 - IsoRay, Inc. said it has completed a portion of a $4 million private placement for $2,392,000.
The company has so far issued 598,000 units at $4.00 each.
The units are comprised of one share and one warrant. The warrants are exercisable at $6.00 each for two years.
The units were sold between Oct. 20 and Dec. 20.
The company intends to sell up to 402,000 additional units under the same terms.
Based in Richland, Wash., IsoRay produces therapies for prostate and other cancers.
| Issuer: | IsoRay, Inc.
|
| Issue: | Units of one share and one warrant
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| Amount: | $2,392,000
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| Units: | 598,000
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| Price: | $4.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $6.00
|
| Settlement date: | Dec. 20 (for first closing)
|
| Announcement date: | Dec. 29
|
| Stock price: | $6.75 at close Dec. 29
|
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