Financing
Vasogen Closes Previously Announced Financing
Published in Drug Law Weekly, June 5th, 2007
Vasogen Inc. (NASDAQ:VSGN; TSX:VAS) announced that it has closed its previously announced financing for US$16 million in gross proceeds through the sale of its common shares at a price of US$3.25. Under the terms of the purchase agreements, Vasogen also issued 5-year warrants to purchase an additional 3.7 million common shares at an exercise price of US$3.16 per share. If all of the 3.7 million warrants are exercised, the Company will receive an additional US$11.7 million in gross proceeds. Vasogen now has approximately 22.4 million shares of common stock outstanding.
Net proceeds from the financing are approximately US$14.6 million after deducting placement agent fees...
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Source: Drug Law Weekly (2007-06-05)
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