OAK BROOK, Ill.--(BUSINESS WIRE)--Bio-Bridge Science, Inc. (OTCBB:BGES) a developer of vaccines with broad preventative and therapeutic applications, is pleased to announce that the Company has closed a private placement of 4,000,000 shares of Series A Convertible Preferred Stock and 3,000,000 warrants to certain investors for aggregate gross proceeds of $3,000,000. The warrants are immediately exercisable at $1.00 per share and are exercisable at any time within three years from the date of issuance. The proceeds that the Company will receive if the investors exercise all these warrants will also be $3,000,000. The financing will be used to continue to fund Bio-Bridge’s strategic initiatives, including vaccine development activities and acquisition moves in China. The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to the effectiveness of a registration statement or an applicable exemption from the registration requirements of the Securities Act. Bio-Bridge has agreed to file a registration statement covering resale of the securities by the private placement investors. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities.
