By Sheri Kasprzak
New York, March 5 - Upstream Biosciences Inc. is gearing up to close a $2 million private placement.
The offering includes up to 1,333,333 units at $1.50 each.
Each unit consists of one share and two warrants. One of the warrants is exercisable at $1.75 and the other at $1.85.
The first tranche of the deal closed for $1 million, and a second tranche is expected to close within the next 30 days.
Proceeds will be used for the company's genetic markers and drug-response assay.
Upstream, based in Vancouver, B.C., develops biomarkers to detect certain types of cancer.
| Issuer: | Upstream Biosciences Inc.
|
| Issue: | Units of one share and two warrants
|
| Amount: | $2 million
|
| Units: | 1,333,333
|
| Price: | $1.50
|
| Warrants: | Two warrants per unit
|
| Warrant strike price: | $1.75 for one warrant; $1.85 for one warrant
|
| Announcement date: | March 5
|
| Stock symbol: | OTCBB: UPBS
|
| Stock price: | $1.53 at close March 5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
