Financings in Brief: Female Health Co.
This article was originally published in The Gray Sheet
Executive SummaryFemale Health Co.: Raises $2 mil. through the private placement of 729,927 shares of convertible preferred stock at $2.74 each and four-year warrants to purchase 240,000 shares of common stock. The Chicago-based maker of female condoms plans to use the proceeds for general working capital purposes. The warrants are "exercisable at a price per share equal to the lesser of $3.425 or the average of the three closing bid prices per share of common stock for any three consecutive trading days chosen by the investor during the 30 trading day period ending on the trading day immediately prior to the exercise of the warrants," the company explains. Shoreline Pacific was placement agent for the offering...
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