By Devika Patel
Knoxville, Tenn., Nov. 12 - Uluru Inc. said it will raise $1.5 million in a registered direct offering of stock.
The company will sell 10,714,467 common shares at $0.14 apiece.
Investors also will receive warrants for 5,357,233 shares. Each warrant is exercisable at $0.19 for five years.
Rodman & Renshaw, LLC is the agent.
Proceeds will be used for research and development and for general corporate purposes.
Uluru, based in Addison, Texas, develops wound management, plastic surgery and oral care products.
| Issuer: | Uluru Inc.
|
| Issue: | Common stock
|
| Amount: | $1.5 million
|
| Shares: | 10,714,467
|
| Price: | $0.14
|
| Warrants: | For 5,357,233 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.19
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Nov. 12
|
| Stock symbol: | Amex: ULU
|
| Stock price: | $0.19 at close Nov. 10
|
| Market capitalization: | $8.73 million
|
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