Olympus assists in selling 16,785,415 shares to help repay bridge loan
By Devika Patel
Knoxville, Tenn., Dec. 3 – Guided Therapeutics, Inc. settled a $3.78 million private placement of stock on Dec. 2, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Olympus Securities, LLC was the agent for the deal, which priced for about $3.8 million on Nov. 26.
The company sold 16,785,415 common shares $0.225 per share, which is a 2.27% premium to the Dec. 2 closing share price of $0.22.
The investors also received warrants for 8,392,708 shares, which are each exercisable at $0.225, also a 2.27% premium to the Dec. 2 closing share price.
Proceeds will be used to seek FDA approval for LuViva, to repay bridge loans and for general working capital and operations, as well as for other corporate purposes.
The medical technology company is based in Norcross, Ga.
| Issuer: | Guided Therapeutics, Inc.
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| Issue: | Common stock
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| Amount: | $3,776,718
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| Shares: | 16,785,415
|
| Price: | $0.225
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| Warrants: | For 8,392,708 shares
|
| Warrant expiration: | Five years
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| Warrant strike price: | $0.225
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| Agent: | Olympus Securities, LLC
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| Announcement date: | Dec. 3
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Stock symbol: | OTCBB: GTHP
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| Stock price: | $0.22 at close Dec. 2
|
| Market capitalization: | $18.22 million
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