Company sells units for $3.50 each, acquired by Excaliber Enterprises
By Angela McDaniels
Tacoma, Wash., May 16 - VistaGen Therapeutics, Inc. issued 1,108,056 units at a price of $3.50 per unit for a total of $3.88 million in a private placement, according to an 8-K filing with the Securities and Exchange Commission.
Each unit sold for $3.50 and consists of one share of VistaGen's common stock and one-fourth of a warrant. Each whole warrant is exercisable for $5.00.
The company's chief executive officer, Shawn Singh, was an investor.
VistaGen was acquired on Wednesday by Excaliber Enterprises Ltd., which plans to change its name to VistaGen Therapeutics, Inc.
The company is a South San Francisco, Calif.-based biotechnology company focused on stem cells.
| Issuer: | VistaGen Therapeutics, Inc.
|
| Issue: | Units of one share of common stock and one-fourth of a warrant
|
| Amount: | $3,878,196
|
| Units: | 1,108,056
|
| Price: | $3.50
|
| Warrants: | One-fourth of a warrant per unit
|
| Warrant strike price: | $5.00
|
| Investor: | Shawn Singh
|
| Pricing date: | May 11
|
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