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Advanced Magnetics, Inc.
Pharmaceutical firm announces $3.3M closing of stock sale
July 6th, 2005
Advanced Magnetics, Inc., (AVM) announced that it has closed a second registered direct sale of common stock and warrant units to affiliates of Vivo Ventures, LLC of Palo Alto, California. Each unit was composed of five shares of common stock and a warrant to purchase one share of common stock. The issue price for each unit was $47.50, and the exercise price for each warrant is $13.00 per share. Advanced Magnetics issued and sold a total of 347,370 shares of its common stock and warrants to purchase 69,474 shares of its common stock in connection with the transaction. The company estimates that, when combined with the registered direct sale of common...
Source: Biotech Week (2005-07-06)
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