By Sheri Kasprzak
New York, Dec. 4 - ReGen Biologics, Inc. concluded a $6.956 million private placement.
The company issued 18.8 million shares at $0.37 apiece to investors in the United States and Europe.
The investors received warrants for 5.64 million shares, exercisable at $0.55 each for five years.
The investors also have the option to buy the same number of shares they purchased in the offering at the same price within 15 days of the Food and Drug Administration clearance of the company's collagen scaffold device.
Franklin Lakes, N.J.-based ReGen develops orthopedic products used for tissue growth and repair.
| Issuer: | ReGen Biologics, Inc.
|
| Issue: | Stock
|
| Amount: | $6.956 million
|
| Shares: | 18.8 million
|
| Price: | $0.37
|
| Warrants: | For 5.64 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.55
|
| Settlement date: | Dec. 4
|
| Stock symbol: | OTCBB: RGBI
|
| Stock price: | $0.38 at close Dec. 1
|
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