Finance

Company focused on management of morbid obesity closes private placement

Published in Obesity and Diabetes Week, August 29th, 2005

iVOW, Inc. (IVOW), announced that it has completed a private placement of common stock and warrants to selected institutional and accredited investors. Dawson James Securities acted as the exclusive financial advisor to, and as sole placement agent for iVOW.

In the private placement, the company sold 8.33 million units at a purchase price of $0.30 per unit, with each unit consisting of 1 share of common stock and a warrant to purchase 1 share of common stock, for aggregate gross proceeds of approximately $2.5 million, or $2.2 net of expenses. The warrants have an exercise price of $0.30 per share and have a term of 5 years.

The company's stockholders...

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Source: Obesity and Diabetes Week (2005-08-29)

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