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Interleukin Genetics Inc Announces $12 Million Private Placement

Monday, 20 May 2013 07:55am EDT 

Interleukin Genetics Inc announced that it has raised $12.0 million in gross proceeds through a private placement of its securities to accredited investors. Interleukin sold an aggregate of 43,715,847 shares of its common stock at a price of $0.2745 per share and issued warrants to purchase an aggregate of 32,786,885 shares of common stock at an exercise price of $0.2745 per share to the investors. Subject to future approval by Interleukin`s shareholders of an increase in the number of authorized shares of common stock, each investor has the right, prior to June 30, 2014, to purchase its pro rata share of up to an aggregate of $5,000,000 of additional shares of common stock and warrants on the same terms and conditions as those set forth above. Immediately prior to the closing of this transaction Pyxis Innovations Inc., the sole holder of Interleukin`s Series A-1 Preferred Stock, converted all outstanding shares of Series A-1 Preferred Stock into 28,160,200 shares of common stock and converted all of Interleukin`s outstanding convertible debt ($14,316,255) into 2,521,222 shares of common stock. BTIG, LLC acted as the exclusive placement agent for the transaction. 

Company Quote

-0.048 -24.00%
18 Sep 2014