Proteonomix Announces a Private Placement of $3.8 Million
06 Março 2012 - 12:06PM
Marketwired
Proteonomix, Inc. (OTCBB: PROT) announced today that it has entered
into definitive agreements with certain institutional investors,
pursuant to which the Company has agreed to sell shares of its
Series E convertible preferred stock at an aggregate purchase price
of approximately $3.8 million (which are convertible into a total
of 895,291 shares of Proteonomix common stock) and Series A, Series
B and Series C warrants to purchase an aggregate of 2,685,873
shares of Proteonomix common stock. The preferred stock is
convertible at any time into shares of Proteonomix common stock at
a conversion price of $4.25 per share, subject to adjustment as
provided in the certificate of designation. The transaction is
expected to close on or about March 8, 2012, subject to
satisfaction of customary closing conditions.
The warrants have an exercise price of $4.25 per share. The
Series A warrants and Series B warrants are each immediately
exercisable. The Series C warrants become exercisable at any time
and to the same extent that any portion of the Series B warrants
are exercised. The Series A and Series C warrants shall each have a
term of five years from the issue date and the term of the Series B
warrant is one year and two weeks from the issue date. The warrants
are also subject to full ratchet anti-dilution protection. Other
than the exercise periods, all three series of warrants are
identical. The Company will receive up to an additional
$11,414,960.25 if all warrants are exercised.
The Company has agreed to file a registration statement with the
Securities and Exchange Commission (SEC) within seven business days
from the filing of its annual report for the year ended December
31, 2011, but in no event later than April 16, 2012, registering
the resale of the shares of common stock issuable upon the exercise
of the warrants and conversion of the preferred stock. Any offering
of the Company's securities under the resale registration statement
referred to above will be made only by means of a prospectus.
Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman
& Renshaw Capital Group, Inc. (NASDAQ: RODM), acted as the
exclusive placement agent for the transaction.
The securities offered in the private placement have not been
registered under the Securities Act of 1933, as amended (the
"Securities Act"), or applicable state securities laws.
Accordingly, the securities may not be offered or sold in the
United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws. The securities were offered only to accredited
investors.
This release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state.
Further details of the placement will be described in a Current
Report on Form 8-K to be filed with the SEC by the Company and all
of the transaction documents will be attached to the Form 8-K.
About Proteonomix, Inc.
Proteonomix is a biotechnology company focused on developing
therapeutics based upon the use of human cells and their
derivatives. The Proteonomix Family of companies includes
Proteoderm, StromaCel, PRTMI and THOR Biopharma. Proteoderm, Inc.
is a wholly owned subsidiary that has developed an anti-aging line
of skin care products. StromaCel, Inc. develops therapeutic
modalities for the treatment of Cardiovascular Disease (CVD).
Proteonomix Regenerative Translational Medicine Institute, Inc.
(PRTMI) intends to focus on the translation of promising research
in stem cell biology and cellular therapy to clinical applications
of regenerative medicine. Proteonomix intends to create and
dedicate a subsidiary to each of its technologies. Please also
visit http://www.proteonomix.com/, http://www.proteoderm.com/,
http://www.otcqb.com/ and http://www.sec.gov/.
This press release may contain forward-looking statements, which
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. In some cases you can
identify those so-called "forward-looking statements" by words such
as "may," will," "should," "expects," "plans," "targets,"
"believes," "anticipates," "estimates," "predicts," "potential," or
"continue," or the negative of those words or comparable words.
These forward-looking statements are subject to risks and
uncertainties, product tests, commercialization risks, availability
of financing and results of financing efforts that could cause
actual results to differ materially from historical results or
those anticipated. Further information regarding these and other
risks is described from time to time in the Company's filings with
the SEC, which are available on its website at: http://www.sec.gov.
We assume no obligation to update or alter our forward-looking
statements made in this release or in any periodic report filed by
us under the Securities Exchange Act of 1934, as amended, or any
other document whether the result of new information, future events
or otherwise, except as otherwise required by applicable federal
securities laws.
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Contact: Proteonomix, Inc. Michael Cohen CEO Phone:
+1-973-544-6116 Email: Email Contact
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