8,895,685 units of one share and 0.3 warrants sold at $4.00 per unit
By Devika Patel
Knoxville, Tenn., July 15 – RestorGenex Corp. said it settled a $35.58 million private placement of units. Prospect News misstated the amount on Monday. Maxim Group LLC was the agent for the deal, which pricing on April 29.
The company sold 8,895,685 units of one common share and 0.3 warrants at $4.00 per unit.
Each whole warrant is exercisable at $4.80 for four years. The warrant strike price is a 12.73% discount to the April 28 closing share price of $5.50.
“We are pleased to have raised this significant amount of money,” chief executive officer Stephen M. Simes said in a press release. “We intend to use the proceeds to continue the development of our proprietary dermatology, ophthalmology and women’s health portfolio products, as well as to explore our other portfolio products and technologies, for working capital and other general purposes.”
The company is based in Los Angeles.
| Issuer: | RestorGenex Corp.
|
| Issue: | Units of one common share and 0.3 warrants
|
| Amount: | $35,582,740
|
| Units: | 8,895,685
|
| Price: | $4.00
|
| Warrants: | 0.3 warrants per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $4.80
|
| Agent: | Maxim Group LLC
|
| Pricing date: | April 29
|
| Settlement date: | July 15
|
| Stock symbol: | OTCBB: RESX
|
| Stock price: | $5.50 at close on April 28
|
| Market capitalization: | $59.51 million
|
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