By Devika Patel
Knoxville, Tenn., Dec. 8 - Neoprobe Corp. said it raised $3 million in a private placement of its convertible preferred stock with Platinum-Montaur Life Sciences, LLC.
Each of the preferreds is convertible into common shares at $0.50 per share.
Platinum-Montaur also received warrants for 6 million common shares; each warrant is exercisable at $0.58.
WBB Securities LLC was the agent.
Neoprobe is a Dublin, Ohio-based biomedical company focused on improving cancer surgery outcomes.
| Issuer: | Neoprobe Corp.
|
| Issue: | Convertible preferred stock
|
| Amount: | $3 million
|
| Conversion price: | $0.50
|
| Warrants: | For 6 million shares
|
| Warrant strike price: | $0.58
|
| Agent: | WBB Securities LLC
|
| Investor: | Platinum-Montaur Life Sciences, LLC
|
| Settlement date: | Dec. 8
|
| Stock symbol: | OTCBB: NEOP
|
| Stock price: | $0.57 at close Dec. 5
|
| Market capitalization: | $39.8 million
|
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