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