Company sells 948,464 common shares at $2.75 per share to 34 investors
By Devika Patel
Knoxville, Tenn., June 12 – Ruthigen, Inc. completed a $2.61 million private placement of stock with 34 investors on June 12, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 948,464 common shares at $2.75 per share. The per-share price represents a 29.12% discount to the June 11 closing share price of $3.88.
The Santa Rosa, Calif., biopharmaceutical company is a subsidiary of Oculus Innovative Sciences, Inc.
| Issuer: | Ruthigen, Inc.
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| Issue: | Common stock
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| Amount: | $2,608,276
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| Shares: | 948,464
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| Price: | $2.75
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| Warrants: | No
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| Settlement date: | June 12
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| Stock symbol: | Nasdaq: RTGN
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| Stock price: | $3.88 at close June 11
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| Market capitalization: | $19.46 million
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