News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

RestorGenex Announces Closing Of Its Private Placement Of Common Stock


7/15/2014 3:07:12 PM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

CHICAGO--(BUSINESS WIRE)--RestorGenex Corporation (OTCQB: RESX), a specialty biopharmaceutical company, announced today that it closed its private placement, which raised approximately $35.6 million in gross proceeds. RestorGenex received net proceeds of approximately $31.3 million, after deducting placement agent fees and other offering expenses. RestorGenex sold 8,895,685 shares of its common stock and warrants to purchase up to 2,668,706 additional shares of its common stock in a private placement to institutional and accredited investors. Each unit, consisting of one share of common stock and a warrant to purchase 0.3 of a share of common stock, was sold for a purchase price of $4.00. Each full warrant is exercisable immediately into one common share of common stock at an exercise price of $4.80 per share and will expire four years from its date of issuance. As a result of closing this financing, RestorGenex currently has outstanding approximately 18.4 million shares of common stock and 24.5 million fully diluted shares.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES