By Devika Patel
Knoxville, Tenn., Oct. 6 - Nutra Pharma Corp. completed a $2.8 million private placement of stock on Sept. 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 34,948,750 common shares at $0.08 per share.
Proceeds will be used for working capital purposes, hiring new employees and to scale up manufacturing for the company's over-the-counter pain reliever product, Cobroxin.
Nutra Pharma is a biopharmaceutical company located in Boca Raton, Fla.
| Issuer: | Nutra Pharma Corp.
|
| Issue: | Common stock
|
| Amount: | $2,795,900
|
| Shares: | 34,948,750
|
| Price: | $0.08
|
| Warrants: | No
|
| Settlement date: | Sept. 30
|
| Stock symbol: | OTCBB: NPHC
|
| Stock price: | $0.87 at close Sept. 30
|
| Market capitalization: | $161 million
|
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