By Devika Patel
Knoxville, Tenn., June 23 - Raptor Pharmaceuticals Corp. will conduct a $2.24 million private placement of units, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company is selling 7 million units of one common share and one half-share warrant at $0.32 per unit.
Each whole, two-year warrant will be exercisable at $0.60 in the first year and at $0.75 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: | $2.24 million
|
| Units: | 7 million
|
| Price: | $0.32
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.60 in the first year, $0.75 thereafter
|
| Pricing date: | June 23
|
| Stock symbol: | OTCBB: RPTP
|
| Stock price: | $0.38 at close June 22
|
| Market capitalization: | $21.2 million
|
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