MISSION VIEJO, Calif.--(BUSINESS WIRE)--Aeolus Pharmaceuticals, Inc. (OTC Bulletin Board:AOLS) announced today that it has completed a $1.65 million financing with several existing institutional shareholders, all of which are affiliates of Xmark Opportunity Partners, LLC. Under the terms of the financing, Aeolus received $1.65 million in gross proceeds in exchange for 5,892,857 Units (the “Units”), with each Unit comprised of one share of Aeolus Pharmaceuticals common stock, and a seven year warrant to purchase up to two additional shares of Aeolus Pharmaceuticals common stock at an initial exercise price of $0.28 per share, for a per Unit purchase price of $0.28. The proceeds from the transaction will be used to fund animal efficacy studies in Acute Radiation Syndrome, further development of AEOL 10150 and for general corporate purposes.
