ARCA biopharma Announces Private Placement of $1.75 Million with Institutional Investors
12/22/2011 6:43:58 AM
BROOMFIELD, Colo.--(BUSINESS WIRE)--ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company developing genetically-targeted therapies for atrial fibrillation and other cardiovascular diseases, today announced that it has agreed to sell approximately $1.75 million of its common stock and warrants to six institutional investors in a private placement transaction. ARCA will issue an aggregate of approximately 1.67 million shares of common stock to investors together with warrants to purchase approximately 1.25 million shares of common stock. ARCA expects to receive approximately $1.5 million in net proceeds from the transaction.
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