By Devika Patel
Knoxville, Tenn., July 21 - Cardium Therapeutics, Inc. completed a $3.34 million registered direct placement of stock on July 18, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1.67 million common shares at $2.00 per share. Investors also received warrants for 584,500 common shares, which are exercisable at $2.00 for five years. The warrants were fully exercised at closing.
Empire Asset Management Co. was the agent.
San Diego-based Cardium develops therapeutic products and devices for cardiovascular, ischemic and related disorders.
| Issuer: | Cardium Therapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $3.34 million
|
| Shares: | 1.67 million
|
| Price: | $2.00
|
| Warrants: | For 584,500 shares
|
| Warrant strike price: | $2.00
|
| Warrant expiration: | Five years
|
| Agent: | Empire Asset Management Co.
|
| Pricing date: | July 18
|
| Stock symbol: | Amex: CXM
|
| Stock price: | $2.20 at close July 18
|
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