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Finance
DOR BioPharma announces private equity financing of $3.65 million
May 10th, 2006
DOR BioPharma, Inc. (DOR) announced that it has entered into definitive agreements for the sale of securities in a private placement to institutional investors with gross proceeds to the company of approximately $3.65 million. Under the terms of the financing, in exchange for gross proceeds of approximately $3.65 million, DOR will issue, subject to customary closing conditions, approximately 13.2 million shares of common stock and warrants to purchase approximately 13.2 million shares of common stock exercisable at $0.45. The expiration date of the warrants will be accelerated if the company's common stock trades in excess of $1.69 for 20 trading days during any 30...
Source: Vaccine Weekly (2006-05-10)
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