MORRISVILLE, N.C., June 15, 2012 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) today announced that it has entered into definitive agreements with institutional investors to amend the terms of the Company's previously announced $7.5 million offering of registered shares of Series A Convertible Preferred Stock, par value $0.0001 per share, and registered warrants to purchase shares of the Company's common stock, par value $0.0001 per share. The transaction, which was announced in December 2011, was originally scheduled to fund in two installments. The first installment of $3.5 million closed on December 12, 2011, and the second installment of $4.0 million was scheduled to close in June 2012, subject to certain closing conditions. One of these conditions required the Company to have sufficient capacity to ensure delivery of all shares in the second installment under NASDAQ Stock Market rules relating to issuances of more than 20% of the Company's outstanding Common Stock without stockholder approval.
