By Devika Patel
Knoxville, Tenn., Jan. 22 - ReGen Biologics, Inc. completed a private placement of stock for approximately $7.05 million on Jan. 16, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold approximately 2,015,000 common shares at $3.50 apiece and warrants for a number of shares equal to 15% of the shares purchased.
Each warrant is exercisable at $1.20 for five years.
ReGen, based in Franklin Lakes, N.J., develops orthopedic products.
| Issuer: | ReGen Biologics, Inc.
|
| Issue: | Common stock
|
| Amount: | $7.05 million (approximate)
|
| Shares: | 2,015,000 (approximate)
|
| Price: | $3.50
|
| Warrants: | 15% coverage
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.20
|
| Settlement date: | Jan. 16
|
| Stock symbol: | OTCBB: RGBO
|
| Stock price: | $3.50 at close Jan. 16
|
| Market capitalization: | $18 million
|
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