2,783,330 shares sold with five-year warrants for 1,421,996 shares
By Devika Patel
Knoxville, Tenn., Nov. 25 – CytoDyn, Inc. raised about $2.1 million in a private placement of stock from Oct. 6 through Nov. 23, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2,783,330 common shares.
Investors also received warrants for 1,421,996 shares, which are each exercisable at $0.75 for five years. The strike price is a 2.6% discount to the Oct. 2 closing share price of $0.77.
Based in Santa Fe, N.M., CytoDyn develops DNA-based vaccines and other products.
| Issuer: | CytoDyn, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.1 million (approximate)
|
| Shares: | 2,783,330
|
| Warrants: | For 1,421,996 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | Oct. 6 through Nov. 23
|
| Stock symbol: | OTCBB: CYDY
|
| Stock price: | $0.77 at close Oct. 2
|
| Market capitalization: | $75.31 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
