By Laura Lutz
Washington, Dec. 20 - pSivida Ltd. settled a private placement of shares with attaching options for A$3.7 million.
The company sold 14,230,768 ordinary shares to Australian and European investors at A$0.26 per share.
Each share included two attaching options exercisable at A$0.26 for four years.
The private placement provides the company with interim financing prior to an expected financing agreement with Nordic Biotech Advisors. Under that agreement, Nordic is expected to make a A$5.1 million investment in pSivida and a A$28.2 million investment over time in a special purpose vehicle to fund development of the company's Medidur product.
Based in Boston, pSivida is a bio-nanotech company focused on drug delivery products.
| Issuer: | pSivida Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$3.7 million
|
| Shares: | 14,230,768
|
| Price: | A$0.26
|
| Warrants: | No
|
| Options: | Two per share
|
| Options strike price: | A$0.26
|
| Options expiration: | Four years
|
| Settlement date: | Dec. 20
|
| Stock symbol: | Australia: PSD
|
| Stock price: | A$0.26 at close Dec. 20
|
© 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.
