Key Developments: Spherix Inc (SPEX.OQ)
7.08USD
20 May 2013
$0.07 (+1.00%)
$7.01
$7.05
$7.15
$7.02
420
2,965
$17.20
$5.51
Latest Key Developments (Source: Significant Developments)
Spherix Inc Announces New Interim Chief Executive Officer
Spherix Inc announced that the naming of an interim Chief Executive Officer. Harvey Kesner, currently a director, will serve as interim Chief Executive Officer. Mr. Kesner is a practicing corporate and securities attorney who has been actively engaged in assisting start-up and emerging businesses. Full Article
Spherix Inc Announces Closing of Private Placement of $2.6 Million in Common Stock and Warrants
Spherix Inc announced the closing of previously reported agreements to sell $2.6 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. Spherix has issued an aggregate of 483,657 shares of common stock at a price of $5.324 per share along with warrants to purchase an additional 483,657 shares of common stock at an exercise price of $6.53 per share. The warrants shall be exercisable for a period of five years, but will not be effective until approved by the shareholders of the Company. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. acted as the exclusive placement agent for this offering. Full Article
Spherix Inc To Raise $2.6 Million In Private Placement
Spherix Inc announced that it has entered into definitive agreements to sell $2.6 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. The closing of the offering is expected to occur on or about November 9, 2012, subject to customary closing conditions, at which time Spherix will receive the cash proceeds and deliver the securities. Under the terms of the offering, the Company will sell an aggregate of 483,657 shares of common stock at a price of $5.324 per share along with warrants to purchase an additional 483,657 shares of common stock at an exercise price of $6.53 per share. The warrants shall be exercisable for a period of five years, but will not be effective until approved by the shareholders of the Company. The common stock and warrants will be issued in a private placement of securities exempt from registration pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506 promulgated there under. The Company intends to use the net proceeds from the offering for general corporate purposes. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. acted as the exclusive placement agent for this offering. Full Article
Spherix Inc Announces Closing Of Registered Direct Offering Of $1.15 Million In Common Stock And Warrants
Spherix Inc announced the closing of previously announced agreements to sell $1.15 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a registered direct offering to institutional investors. Spherix has issued an aggregate of 1,064,815 shares of common stock at a price of $1.08 per share along with warrants to purchase an additional 212,963 shares of common stock at an exercise price of $1.40 per share. The warrants are exercisable six months after issuance and terminate 66 months after the date of issuance. The Company intends to use the net proceeds from the offering to continue the development of SPX-106T, for general development and commercialization efforts, including the possibility of obtaining by license or acquisition other clinical stage compounds/orphan drugs, as well as for general corporate purposes. Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the offering. Full Article
Spherix Inc Announces Registered Direct Offering Of $1.15 Million
Spherix Inc announced that it has entered into definitive agreements to sell $1.15 million of shares of its common stock and warrants to purchase shares of its common stock in a registered direct offering to institutional investors. Spherix will issue an aggregate of 1,064,815 shares of common stock to the institutional investors together with warrants to purchase an additional 212,963 shares of common stock. Each investor will receive one share of common stock and a warrant to purchase 0.2 shares of common stock for a purchase price of $1.08. The warrants have an exercise price of $1.40 per share, and are exercisable six months after issuance and terminate 66 months after the date of issuance. The Company intends to use the net proceeds from the offering to continue the development of SPX-106T; for general development and commercialization efforts, including the possibility of obtaining by license or acquisition other clinical stage compounds/orphan drugs; as well as general corporate purposes. The closing of the offering is expected to occur on February 7, 2012, or earlier, subject to customary closing conditions, at which time Spherix will receive the cash proceeds and deliver the securities. Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the offering. Full Article
Spherix Inc To Raise $1.25 Million In Private Placement
Spherix Inc announced that it has entered into definitive agreements to sell $1.25 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. The closing of the offering is expected to occur on or about October 28, 2011, subject to customary closing conditions, at which time Spherix will receive the cash proceeds and deliver the securities. Under the terms of the offering, the Company will sell an aggregate of 532,559 shares of common stock at a price of $2.365 per share along with warrants to purchase an additional 532,559 shares of common stock at an exercise price of $2.24 per share. The warrants are exercisable immediately after closing and expire in five years. The Company is required to file a resale registration statement within 30 days following the closing that covers the resale by the investors of the shares and the shares issuable upon exercise of the warrants. . The Company intends to use the net proceeds from the offering to continue the development of SPX-106T (the combination of D tagatose and SPX-106), as well as for general corporate purposes. Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the offering. Full Article
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