Deal sells 2.25 million shares at $0.20 along with five-year warrants
By Devika Patel
Knoxville, Tenn., April 9 - AV Therapeutics Inc. settled a $450,000 private placement of stock on April 4, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Palladium Capital Advisors, LLC was the agent.
The company sold 2.25 million common shares at $0.20 per share.
Investors also received warrants for 1,125,000 shares, each of which is exercisable at $0.40 for five years.
The price per share and warrant strike price are 51.22% and 2.44% discounts to the April 3 closing share price of $0.41.
The New York company is developing cancer therapeutics and immunotherapeutic vaccines.
| Issuer: | AV Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $450,000
|
| Shares: | 2.25 million
|
| Price: | $0.20
|
| Warrants: | For 1,125,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.40
|
| Agent: | Palladium Capital Advisors, LLC
|
| Settlement date: | April 4
|
| Stock symbol: | OTCBB: AVTH
|
| Stock price: | $0.41 at close on April 3
|
| Market capitalization: | $25.57 million
|
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