By Devika Patel
Knoxville, Tenn., May 22 - Raptor Pharmaceuticals Corp. completed a $2.21 million tranche of a $9.21 million private placement of units on May 21, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 4.42 million units of one common share and one half-share warrant at $0.50 per unit. It plans to sell another 14 million units in the near future.
Each two-year warrant will be exercisable at $0.75 in the first year and at $0.90 thereafter.
Raptor is a Novato, Calif., biotechnology company that bioengineers novel drugs and drug-targeting platforms derived from the human receptor-associated protein and related proteins.
| Issuer: | Raptor Pharmaceuticals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $9.21 million
|
| Units: | 18.42 million
|
| Price: | $0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.75 in the first year, $0.90 thereafter
|
| Settlement date: | May 21 (for $2.21 million)
|
| Stock symbol: | OTCBB: RPTP
|
| Stock price: | $0.55 at close May 21
|
© 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.
