By Sheri Kasprzak
Atlanta, Oct. 19 - IR Biosciences Holdings Inc. finished a $1.65 million private placement.
The deal was comprised of 165 units sold at $10,000 per unit. Each unit included 80,000 shares and 80,000 warrants.
The warrants, exercisable for five years, are for one share at $0.50.
Joseph Stephens & Co. Inc. served as placement agent in the deal and received 3.3 million shares.
Based in Scottsdale, Ariz., IR Biosciences is a biotechnology holding company.
| Issuer: | IR Biosciences Holdings Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $1.65 million
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| Shares: | 165 units, 80,000 shares per unit (total 13.2 million)
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| Price: | $10,000 per unit ($0.125 per share)
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| Warrants: | One warrant for each share
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.50
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| Placement agent: | Joseph Stephens & Co. Inc.
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| Settlement date: | Oct. 13
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| Announcement date: | Oct. 19
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| Stock price: | $0.26 at close Oct. 13
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