By Sheri Kasprzak
New York, July 7 - Lixte Biotechnology, Inc. will go public through a private placement conducted by SRKP 7, Inc. following a reverse merger.
The company intends to sell 4,504,504 shares at $0.333 each. So far, SRKP 7 has issued 1,973,871 shares to 26 investors for proceeds of $657,300.
WestPark Capital, Inc. is the placement agent.
In the reverse merger, SRKP 7 issued 19,021,786 shares in exchange for all of the outstanding shares of Lixte.
Lixte, based in Los Angeles, is a development-stage biotech company focused on developing biomarkers to detect cancer.
SRKP 7, also based in Los Angeles, acquires biotech and biopharmaceutical companies.
| Issuer: | Lixte Biotechnology, Inc.
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| Issue: | Stock
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| Amount: | $1.5 million
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| Shares: | 4,504,504
|
| Price: | $0.333
|
| Warrants: | No
|
| Placement agent: | WestPark Capital, Inc.
|
| Announcement date: | July 7
|
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