By Sheri Kasprzak
New York, March 21 - Neuro-Hitech, Inc. wrapped its previously announced private placement for $5.6 million.
The company sold 1,092,682 shares at $5.125 each.
The investors also received warrants for 550,000 shares, exercisable at $7.00 each.
The offering closed in two tranches with the first settling for $3.1 million on Nov. 17.
The placement was conducted to fund the company's merger with QA Acquisition Corp.
New York-based Neuro-Hitech develops and commercializes treatments for Alzheimer's disease and other degenerative neurological disorders.
| Issuer: | Neuro-Hitech, Inc.
|
| Issue: | Stock
|
| Amount: | $5.6 million
|
| Shares: | 1,092,682
|
| Price: | $5.125
|
| Warrants: | For 550,000 shares
|
| Warrant strike price: | $7.00
|
| Settlement date: | Nov. 17 for $3.1 million; March 21 for remainder
|
| Stock symbol: | OTCBB: NHPI
|
| Stock price: | $5.65 at close March 21
|
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