By Devika Patel
Knoxville, Tenn., July 30 - Marshall Edwards, Inc. will take in $10 million in a private placement of shares, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 4,608,295 common shares at $2.17 per share to Oppenheimer Funds, Inc. and Novogen Ltd.
Proceeds will be used for the expansion of the company's clinical trial programs and general corporate purposes.
Marshall Edwards, based in North Ryde, Australia, is a developmental-stage pharmaceutical company.
| Issuer: | Marshall Edwards, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 4,608,295
|
| Price: | $2.17
|
| Warrants: | No
|
| Investors: | Oppenheimer Funds, Inc. and Novogen Ltd
|
| Pricing date: | July 30
|
| Stock symbol: | Nasdaq: MSHL
|
| Stock price: | $2.08 at close July 29
|
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