Investors include Clal Biotechnology; placement may not be completed
By Devika Patel
Knoxville, Tenn., Nov. 8 - BioCancell Therapeutics Inc. arranged a private placement of stock to raise about $3 million to $4 million on Nov. 7, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Clal Biotechnology Industries Ltd. is among the investors.
The company will sell common shares at NIS 1.25 apiece, or about $0.34 per share, which is a 10% discount to the closing share price on Nov. 7.
The Jerusalem-based biotechnology company noted that it has not committed to carry out the private placement.
| Issuer: | BioCancell Therapeutics Inc.
|
| Issue: | Common shares
|
| Amount: | $3 million (approximate, expandable to $4 million)
|
| Price: | NIS 1.25 (about $0.34)
|
| Warrants: | No
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| Investors: | Clal Biotechnology Industries Ltd.
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| Pricing date: | Nov. 7
|
| Stock symbol: | Tel Aviv: BICL
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