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Synthetic Biologics Inc Completes $10.8 Million Private Placement Financing


Wednesday, 31 Oct 2012 07:02am EDT 

Synthetic Biologics Inc announced the completion of its previously announced private placement in connection with stock purchase agreements dated October 25, 2012. The Company sold approximately 6.8 million shares of its common stock at a purchase price of $1.60 per share to new and existing investors for gross proceeds of approximately $10.8 million. This transaction was completed at a discount to market and no warrants were issued to the investors. Existing investors and an affiliate of R.J. Kirk constituted a majority of the participating investors in this transaction. In addition to funding the Company's monoclonal antibody and synthetic DNA programs, the net proceeds are intended to be used for general corporate purposes, including the execution of its business plan as well as the expansion and advancement of its pipeline. Griffin Securities, Inc. served as the financial advisor and placement agent for the offering. 

Company Quote

1.78
-0.06 -3.26%
16 Sep 2014