Convertible preferreds sold to fund pre-clinical and clinical research
By Devika Patel
Knoxville, Tenn., Aug. 29 - Neurotrope, Inc. said it completed a $21.92 million private placement of its series A convertible preferred stock on Aug. 23.
The company sold 21.92 million preferreds at $1.00 apiece.
EDI Financial, Inc. was the agent. Gottbetter Capital Markets, LLC was a sub-agent.
Proceeds will be used for pre-clinical and clinical research costs, as well as to pay royalties, patent expenses and general and administrative expenses.
Concurrently with the placement, Neurotrope said it completed a reverse merger in which Neurotrope BioScience, Inc. became a company subsidiary.
Based in Sacramento, Calif., Neurotrope, formerly BlueFlash Communications, Inc., plans to develop software and systems to deliver geo-location targeted coupon advertising to mobile Internet devices.
| Issuer: | Neurotrope, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $21.92 million
|
| Preferrreds: | 21.92 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Agent: | EDI Financial, Inc.
|
| Sub-agent: | Gottbetter Capital Markets, LLC
|
| Settlement date: | Aug. 23
|
| Stock symbol: | OTCBB: BLFLD
|
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