By Laura Lutz
Des Moines, Dec. 20 - AspenBio Pharma, Inc. entered into agreements for an $18 million private placement of stock, according to a news release.
The company intends to sell about 2.5 million common shares in the deal.
Settlement is expected on Dec. 24.
Proceeds will be used for research and development, product development, activities related to FDA approval, working capital and general corporate purposes.
AspenBio is a biopharmaceutical company based in Castle Rock, Colo.
| Issuer: | AspenBio Pharma, Inc.
|
| Issue: | Stock
|
| Amount: | $18 million
|
| Shares: | 2.5 million (approximate)
|
| Announcement date: | Dec. 20
|
| Settlement date: | Dec. 24
|
| Stock symbol: | Nasdaq: APPY
|
| Stock price: | $7.77 at close Dec. 20
|
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