By Sheri Kasprzak
Atlanta, Feb. 25 - Neurologix Inc. closed a private placement of stock for $1.03 million.
The company sold 792,000 shares at $1.30 each to institutional and individual investors.
The investors also received warrants for 198,000 shares at $1.625 each for five years. The warrants are callable beginning August 2007 if Neurologix's stock price exceeds $3.25 per share for a 10-day period.
Based in Fort Lee, N.J., Neurologix researches and develops treatments for disorders of the brain and central nervous system. The proceeds will be used for research and development, as well as general corporate purposes.
| Issuer: | Neurologix Inc.
|
| Issue: | Stock
|
| Amount: | $1.03 million
|
| Shares: | 792,000
|
| Price: | $1.30
|
| Warrants: | For 198,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.625
|
| Settlement date: | Feb. 25
|
| Stock price: | $2.20 at close Feb. 25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
