Assured Pharmacy reduces strike price on warrants issued in 2004, 2005 private placements

By Sheri Kasprzak

New York, June 21 - Assured Pharmacy, Inc. has dropped the strike price on warrants issued in a 2004 and 2005 private placement.

The warrants, for a total of 7,524,625 shares, will now be exercisable at $0.40 through July 31, 2006. After that time, the strike price will return to $0.60 per share.

Also, for 3,695,875 warrants issued in a June 2004 private placement, the company has extended the expiry to Dec. 31, 2006 from June 17, 2006.

The warrants were issued as part of unit offerings. The first deal, from June 2004, included units of two shares and one warrant and the company issued warrants for a total of 3,695,875 shares.

On Dec. 23, 2005, the company completed a private placement of units and issued warrants for 1,766,250 shares.

Finally, from the beginning of this fiscal year beginning Dec. 31, 2005 through the present, the company issued warrants for 2,062,500 shares.

Based in Irvine, Calif., Assured operates pharmacies that dispense pain medications.

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