Published on 7/31/2008 in the Prospect News PIPE Daily.
New Issue: York Pharma concludes £3.92 million private placement of stock
By Devika Patel
Knoxville, Tenn., July 31 - York Pharma plc said it completed a £3.92 million private placement of shares.
The company sold 8,904,611 shares at 44p per share.
Investors also received 1,149,997 warrants, exercisable at 50p until Feb. 16, 2009.
Proceeds will be used to fund the acquisition of the sales and worldwide commercial rights to two leading dermatological/wound care products, as well as to provide increased working capital.
Based in Milton Keynes, England, York Pharma is a pharmaceutical company focused on dermatology products.
| Issuer: | York Pharma plc
|
| Issue: | Ordinary shares
|
| Amount: | £3,918,028.84
|
| Shares: | 8,904,611
|
| Price: | 44p
|
| Warrants: | 1,149,997
|
| Warrant expiration: | Feb. 16, 2009
|
| Warrant strike price: | 50p
|
| Pricing date: | July 31
|
| Stock symbol: | London: YRK
|
| Stock price: | 34.5p at close July 31
|
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