By Laura Lutz
Des Moines, Jan. 8 - Napo Pharmaceuticals, Inc. arranged a private placement of shares for £3,320,485.
The company agreed to sell 3,513,741 common shares at 94.5p per share, the closing price of the shares on Jan. 5.
The shares will be issued in two tranches. The first, for 3,026,643 shares, will be settled in January. The second tranche, for 487,098 shares, will be closed by March 31.
The shares involved in the placement represent about 8.5% of the company's current outstanding share capital.
Based in South San Francisco, Calif., Napo focuses on the development and commercialization of proprietary pharmaceuticals for the global market.
| Issuer: | Napo Pharmaceuticals, Inc.
|
| Issue: | Shares
|
| Amount: | £3,320,485
|
| Shares: | 3,513,741
|
| Price: | 94.5p
|
| Warrants: | No
|
| Announcement date: | Jan. 8
|
| Stock symbol: | London: NAPL
|
| Stock price: | 97p at close Jan. 7
|
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