Investors also receive five-year warrants for 2,777,778 common shares
By Devika Patel
Knoxville, Tenn., Aug. 20 - Retrophin Inc. completed a $25 million private placement of stock on Aug. 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on Aug. 14.
The company sold 5,555,556 common shares at $4.50 per share. The price per share is a 14.63% discount to $4.10, the Aug. 13 closing share price.
Investors also received warrants for 2,777,778 shares, which are each exercisable at $6.00 for five years. The strike price reflects a 20% premium to the Aug. 13 closing share price.
The biotechnology company is based in New York.
| Issuer: | Retrophin Inc.
|
| Issue: | Common stock
|
| Amount: | $25 million
|
| Shares: | 5,555,556
|
| Price: | $4.50
|
| Warrants: | For 2,777,778 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $6.00
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 15
|
| Stock symbol: | OTCBB: RTRX
|
| Stock price: | $5.00 at close Aug. 13
|
| Market capitalization: | $64.71 million
|
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