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Advanced Magnetics, Inc.
Imaging agents producer to sell $10M in common stock
July 30th, 2003
Advanced Magnetics, Inc., (AVM) announced that the company has entered into definitive agreements with certain institutional investors in connection with a private placement of the company's common stock, which will raise gross proceeds for the company of $10 million. Advanced Magnetics has agreed to sell 1,047,120 shares of Common Stock at $9.55 per share. The investors will also receive warrants to purchase 261,780 shares of Common Stock at an exercise price of $15.50 per share. The offering is expected to close in the next two business days. The securities to be sold in this private placement have not been registered under the Securities Act of...
Source: Biotech Week (2003-07-30)
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