Platinum-Montaur Life Sciences Increases Common Stock Position in Navidea Biopharmaceuticals (NEOP)
12/20/2012 8:54:08 AM
NEW YORK--(BUSINESS WIRE)--Platinum-Montaur Life Sciences LLC (Montaur), a New York-based investment fund, today announced that it has exercised Series W warrants to purchase 6 million shares of common stock in Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB). The warrants were originally issued in December 2007 as a part of Montaur’s original investment in Navidea. Montaur also wishes to correct an inaccuracy regarding its investment in Navidea that was contained in an article posted earlier today on the Seeking Alpha investor website. The article indicated that Montaur had sold 3 million shares of common stock of Navidea on November 27, 2012. In fact, Montaur converted the 3 million shares of common stock back into shares of Preferred Stock of Navidea, paving the way for Montaur to exercise the Series W warrants. On a fully diluted basis, Montaur continues to hold a position that represents over 42 million shares of Navidea common stock.