One investor also receives four-year warrant for 50,000 shares
By Angela McDaniels
Tacoma, Wash., Jan. 7 - AVRA Surgical Robotics, Inc. raised $700,000 through two stock purchase agreements in December, according to an 8-K filing with the Securities and Exchange Commission.
On Dec. 19, the company sold 50,000 shares of common stock for $150,000 to a single investor. The investor also received a four-year warrant for 50,000 shares.
The price per share is $3.00, and the exercise price of the warrant is $5.00 per share.
The company also sold 180,920 shares to investors for a total purchase price of $550,000 on Dec. 31. This is equivalent to $3.04 per share.
In addition, the company sold 10,919,254 shares of common stock on Dec. 31 to 44 purchasers that are stockholders in an affiliated entity. The payment received took the form of $1,091.92 in cash and the satisfaction of the intent of the investment by each purchaser in the affiliated entity.
The New York-based company, formerly RFG Acquisition II Inc., plans to develop and manufacture surgical robotic systems.
Issuer: | AVRA Surgical Robotics, Inc.
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Issue: | Common stock
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Amount: | $700,000
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Shares: | 230,920
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Agent: | Non-brokered
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Dec. 19 sale
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Amount: | $150,000
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Shares: | 50,000
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Price: | $3.00
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Warrant: | For 50,000 shares
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Warrant expiration: | Four years
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Warrant strike price: | $5.00
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Settlement date: | Dec. 19
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Dec. 31 sale
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Amount: | $550,000
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Shares: | 180,920
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Price: | $3.04
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Warrants: | No
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Settlement date: | Dec. 31
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