Series A preferreds, five-year warrants sold to 10 investors in offer
By Devika Patel
Knoxville, Tenn., June 3 – Nemus Bioscience, Inc. completed a $375,000 third tranche of $1 million private placement of series A preferred stock with five investors on May 29, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $275,000 with three investors on April 1 and $350,000 with two investors on April 7.
The company sold 400,000 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, 140,000 preferreds in the second and 150,000 preferreds in the third tranche.
The investors also received five-year warrants for 80,000 shares, with warrants for 22,000 shares issued in the first tranche, warrants for 28,000 shares issued in the second tranche and warrants for 30,000 shares issued in the third 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: | $1 million
|
| Preferreds: | 400,000
|
| Price: | $2.50
|
| Warrants: | For 80,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.00
|
| Settlement date: | April 1 (for $275,000), April 7 (for $350,000), May 29 (for $375,000)
|
| Stock symbol: | OTCBB: NMUS
|
| Stock price: | $4.25 at close on March 31
|
| Market capitalization: | $51.24 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.
