By Sheri Kasprzak
New York, April 4 - pSivida Ltd. wrapped a private placement of stock for A$11,037,924.
The company sold 40,957,050 shares at A$0.2695 each to U.S.- and Europe-based investors. The share price is equal o the five-day volume weighted average price of the company's stock ended March 30.
The investors received one option for every two shares purchased. The options are exercisable at A$0.2695 each for four years.
HPC Capital Management Corp. was the placement agent.
Proceeds will be used to retire a convertible note held by Castlerigg Master Investments Ltd.
Based in Perth, Australia, pSivida produces drug delivery products using bio-nanotechology.
| Issuer: | pSivida Ltd.
|
| Issue: | Stock
|
| Amount: | A$11,037,924
|
| Shares: | 40,957,050
|
| Price: | A$0.2695
|
| Options: | One option for every two shares purchased
|
| Options expiration: | Four years
|
| Options price: | A$0.2695
|
| Placement agent: | HPC Capital Management Corp.
|
| Settlement date: | April 4
|
| Stock symbol: | Australia: PSD
|
| Stock price: | A$0.285 at close April 4
|
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