Published on 10/18/2007 in the Prospect News PIPE Daily.
New Issue: NanoViricides wraps $1.75 million sale of shares, warrants
By Devika Patel
Knoxville, Tenn., Oct. 18 - NanoViricides, Inc. has closed a private placement of common shares and warrants, raising $1.75 million, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal settled on Oct. 16.
The company sold 3,500,000 shares at $0.50 apiece. Investors also received three-year warrants to purchase 1,050,000 shares at $1.00 per share.
NanoViricides is a West Haven, Conn., biopharmaceutical company.
Issuer: | NanoViricides, Inc.
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Issue: | Common shares, warrants
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Amount: | $1.75 million
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Shares: | 3,500,000
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Price: | $0.50
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Warrants: | For 1,050,000 shares
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Warrant expiration: | Three years
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Warrant strike price: | $1.00
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Settlement date: | Oct. 16
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Stock symbol: | OTCBB: NNVC
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Stock price: | $0.60 at close Oct. 17
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