Published on 8/18/2008 in the Prospect News PIPE Daily.
New Issue: Novelos pockets $3 million from private placement of shares
By Devika Patel
Knoxville, Tenn., Aug. 18 - Novelos Therapeutics, Inc. settled a $3 million private placement of stock on Aug. 14, according to an 8-K filed Monday with the Securities and Exchange Commission and a company press release.
The company sold 4,615,384 common shares at $0.65 per share to two investors.
Based in Newton, Mass., Novelos is a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis.
| Issuer: | Novelos Therapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $3 million
|
| Shares: | 4,615,384
|
| Price: | $0.65
|
| Warrants: | No
|
| Settlement date: | Aug. 14
|
| Stock symbol: | OTCBB: NVLT
|
| Stock price: | $0.52 at close Aug. 14
|
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