Series A preferreds sold with warrants to five investors in offering
By Devika Patel
Knoxville, Tenn., April 8 – Nemus Bioscience, Inc. completed a $275,000 private placement of series A preferred stock with three investors on April 1, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $350,000 with two investors on April 7.
The company sold 250,000 preferreds at $2.50 apiece, a 41.18% discount to the March 31 closing share price of $4.25. It sold 110,000 preferreds in the first tranche and 140,000 preferreds in the second.
The investors also received five-year warrants for 50,000 shares, with warrants for 22,000 shares issued in the first tranche and warrants for 28,000 shares issued in the second tranche. The warrants are each exercisable at $5.00, which is a 17.65% premium to the March 31 closing share price.
The biopharmaceutical company is based in Costa Mesa, Calif.
| Issuer: | Nemus Bioscience, Inc.
|
| Issue: | Series A preferred stock
|
| Amount: | $625,000
|
| Preferreds: | 250,000
|
| Price: | $2.50
|
| Dividends: | 10%
|
| Call: | Yes
|
| Warrants: | For 50,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.00
|
| Settlement date: | April 1 (for $275,000), April 7 (for $350,000)
|
| Stock symbol: | OTCBB: NMUS
|
| Stock price: | $4.25 at close on March 31
|
| Market capitalization: | $90.27 million
|
|
|
|
|
© 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.
