Deal sells 1.01 million units of one share, one warrant at $1.00 each
By Devika Patel
Knoxville, Tenn., June 10 – RenovaCare, Inc. completed a $1.01 million private placement of units with five investors on June 5, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1.01 million units of one common share and one warrant at $1.00 per unit.
Each warrant is exercisable at $1.10 for five years. The strike price is a 13.39% discount to the June 4 closing share price of $1.27.
Proceeds will be used for general corporate purposes, including research and development and working capital.
The biotechnology company is based in New York.
| Issuer: | RenovaCare, Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | $1.01 million
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| Units: | 1.01 million
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| Price: | $1.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.10
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| Settlement date: | June 5
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| Stock symbol: | OTCBB: RCAR
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| Stock price: | $1.27 at close on June 4
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| Market capitalization: | $83.22 million
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