Offering also includes seven-year warrants; BTIG was the agent
By Devika Patel
Knoxville, Tenn., May 20 - Interleukin Genetics, Inc. raised $12 million in a private placement of stock on May 17, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 43,715,847 common shares at $0.2745 apiece. The price per share is a 31.38% discount to the May 16 closing share price of $0.40.
The investors also received warrants for 32,786,885 shares. Each seven-year warrant is exercisable at $0.2745, also a 31.38% discount to the May 16 closing share price.
BTIG, LLC was the agent.
Interleukin, based in Waltham, Mass., is a biotechnology company.
| Issuer: | Interleukin Genetics, Inc.
|
| Issue: | Common shares
|
| Amount: | $12 million
|
| Shares: | 43,715,847
|
| Price: | $0.2745
|
| Warrants: | For 32,786,885 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.2745
|
| Agent: | BTIG, LLC
|
| Settlement date: | May 17
|
| Stock symbol: | OTCBB: ILIU
|
| Stock price: | $0.40 at close May 16
|
| Market capitalization: | $16.55 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
