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Cleveland BioLabs Inc reduces debt with $3.5 mln at-the-market private placement of unregistered stock


Wednesday, 18 Jun 2014 09:25am EDT 

Cleveland BioLabs Inc:Enters into securities purchase agreement with Mikhail Mogutov, Chairman of Board of Incuron, LLC and Chairman of Investment Committee and founder of Bioprocess Capital Ventures and one institutional investor.Says to issue and sell in private placement $3.5 mln worth of Company's common stock, par value $.005 per share and warrants to purchase Common Stock.Investors have agreed to purchase 6,167,400 units consisting of 6,167,400 shares of and warrant to purchase 3,083,700 shares of at exercise price of $0.56 per share.Proceeds from this offering, along with about $500,000 of company's cash resources will be used to pay down $4 mln of company's existing $6 mln senior secured term loan with Hercules. 

Company Quote

0.3401
-0.0199 -5.53%
19 Dec 2014