|
ADVENTRIX completes $1.36 million sale of stock |
|
Tuesday, 07 July 2009 12:57
|
| ADVENTRX Pharma Inc. (ANX) announced the completion of the sale of shares of its 5% Series B convertible preferred stock pursuant to a registered direct offering to a single institutional investor, representing gross proceeds of approximately $1.36 million. The company noted that 25%, or approximately $340,250, of the gross proceeds will be placed in an escrow account, which will be released to make the dividend and other payments.
Are you watching the right charts? Here are 15 charts traders should see every day. 
-
Essential Reading for Traders
-
| | |
| | | | | The preferred stock is convertible into company shares at the option of the investor at $0.1432 per share and will accrue a 5% dividend until July 6, 2014. If the convertible preferred stock is converted at any time prior to July 6, 2014, the company will pay the holder an amount equal to the total dividend that would accrue on the convertible preferred stock from the conversion date through July 6, 2014, or $250 per $1 thousand principal amount of convertible preferred shares converted, less any dividend payments made with respect to such converted convertible preferred shares.
More...
Free trading ideas and analysis are always found at LearningMarkets.com.
Keep up with us:
| |
|
