Offer sells common shares at $0.0125 per share to fund working capital
By Devika Patel
Knoxville, Tenn., Oct. 10 – Tauriga Sciences, Inc. said it settled a $600,000 private placement of stock on Thursday.
The company sold common shares at $0.0125 apiece, which is a 37.5% discount to the closing share price of $0.02 on Oct. 8.
Dragoon Capital Inc. invested $350,000. Chairman and chief executive officer Stella M. Sung, chief medical officer Lawrence A. May and Derek A. Peterson, the founder and chief executive officer of Terra Tech Corp. also participated.
Proceeds will be used for working capital purposes.
The Danbury, Conn., company develops the next generation immunotherapies to treat cancer.
| Issuer: | Tauriga Sciences, Inc.
|
| Issue: | Common stock
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| Amount: | $600,000
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| Price: | $0.0125
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| Warrants: | No
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| Investors: | Dragoon Capital Inc. (for $350,000), Stella M. Sung, Lawrence A. May and Derek A. Peterson
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| Settlement date: | Oct. 9
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| Stock symbol: | OTCBB: TAUG
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| Stock price: | $0.02 at close Oct. 8
|
| Market capitalization: | $14.29 million
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