Galectin Therapeutics Announces $3 Million Private Placement of Restricted Stock

Published: Aug 21, 2013

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NORCROSS, Ga., Aug. 21, 2013 (GLOBE NEWSWIRE) -- Galectin Therapeutics Inc. (Nasdaq:GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced completion of a $3 million private placement of 500,000 shares of unregistered common stock to a single investor. The common stock was priced at $6.00 per share, which represented an approximate 10% discount from the 15 day volume weighted average trading price, offset by the fact that there were no stock purchase warrants, placement fees or other fees typically associated with an equity investment of this magnitude.

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