By Sheri Kasprzak
Atlanta, Jan. 12 - Arbios Systems Inc. received agreements for a $6.61 million private placement.
The company sold 2,991,812 shares at about $2.21 each.
The investors in the offering also received warrants for 1,495,906 shares. The warrants are exercisable at $2.90 each for five years.
Rodman & Renshaw LLC was the placement agent in the deal.
Arbios, based in Los Angeles, develops, researches and acquires liver assist devices and other treatments for liver failure. The proceeds from the deal will be used to complete a clinical trial for Sepet, a blood purification therapy.
| Issuer: | Arbios Systems Inc.
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| Issue: | Stock
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| Amount: | $6.61 million
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| Shares: | 2,991,812
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| Price: | $2.21
|
| Warrants: | For 1,495,906 shares
|
| Warrant expiration: | Five years
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| Warrant strike price: | $2.90
|
| Placement agent: | Rodman & Renshaw LLC
|
| Settlement date: | Jan. 12
|
| Stock price: | $3 at close Jan. 11
|
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