Protalex, Inc. (PRTX) Announces Completion Of $2.8 Million Private Placement
1/23/2014 9:27:36 AM
FLORHAM PARK, N.J.--(BUSINESS WIRE)--Protalex, Inc. (OTCQB:PRTX), a clinical-stage biopharmaceutical company, today announced that it has consummated a private placement financing to accredited investors of 471,334 shares of its common stock at $6.00 per share, yielding gross proceeds of $2,828,000. No commissions were payable in connection with the financing transaction. Proceeds of the financing will be used for working capital purposes, principally to fund ongoing clinical trials and studies and related activities. The investors in the offering were granted piggy-back registration rights in connection with certain registration statements filed by the company, subject to certain exceptions, including a registration statement filed in connection with a primary offering by the company.
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