By Sheri Kasprzak
New York, July 28 - Viragen, Inc. wrapped a private placement of units for $1.8 million.
The company sold 18,000 units at $100.00 each.
The units are comprised of one share of series C preferreds and 200 common shares.
The preferreds pay annual dividends at 24% beginning July 14, 2007.
Dawson James Securities, Inc. was the placement agent.
The proceeds will be used for working capital.
Plantation, Fla.-based Viragen develops Multiferon, used to treat malignant and infectious diseases.
| Issuer: | Viragen, Inc.
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| Issue: | Units of one share of series C preferred stock and 200 common shares
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| Amount: | $1.8 million
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| Units: | 18,000
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| Price: | $100.00
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| Warrants: | No
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| Placement agent: | Dawson James Securities, Inc.
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| Settlement date: | July 25
|
| Stock symbol: | Amex: VRA
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| Stock price: | $0.33 at close July 25
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