Convertible preferreds sold to fund pre-clinical and clinical research
By Devika Patel
Knoxville, Tenn., Oct. 9 - Neurotrope, Inc. completed a $1.08 million tranche of a $23 million private placement of its series A convertible preferred stock on Oct. 4, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $21.92 million on Aug. 23.
The company sold 23 million preferreds at $1.00 apiece. The price per share is a 48.72% discount to the Oct. 3 closing share price of $1.95. It sold 21.92 million preferreds in the first tranche and 1.08 million preferreds in the second.
EDI Financial, Inc. was the agent. Gottbetter Capital Markets, LLC was a sub-agent.
Proceeds will be used for pre-clinical and clinical research costs, as well as to pay royalties, patent expenses and general and administrative expenses.
Based in Plantation, Fla., Neurotrope (formerly BlueFlash Communications, Inc.) is collaborating with the Blanchette Rockefeller Neuroscience Institute to develop diagnostic and therapeutic technologies for the treatment of Alzheimer's Disease.
| Issuer: | Neurotrope, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $23 million
|
| Preferrreds: | 23 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Agent: | EDI Financial, Inc.
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| Sub-agent: | Gottbetter Capital Markets, LLC
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| Settlement date: | Aug. 23 (for $21.92 million), Oct. 4 (for $1.08 million)
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| Stock symbol: | OTCBB: NTRP
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| Stock price: | $1.95 at close on Oct. 3
|
| Market capitalization: | $48.83 million
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