Bloodless end to Boston Biomedica's failed placement:
This article was originally published in Clinica
Boston Biomedica has managed to exit with some grace and apparently unharmed from its failed stock warrants placement programme with the Paradigm Group and National Securities Corp. Almost two year ago, Boston Biomedica placed an aggregate of 500,000 warrants with the two buyers, but over the course of the registration process, the share price dropped below the option price. The issue last week came to a bloodless close with all parties agreeing to a settlement agreement and mutual release, thereby rescinding or cancelling all obligations to pay exercise prices. Paradigm has also dropped legal proceedings against West Bridgewater, Massachusetts-based Boston Biomedica.