Inovio Pharmaceuticals Inc (INO)

[surf1944]

Posted by: surf1944 Date: Thursday, July 30, 2009 10:53:13 AM
In reply to: None Post # of 208

If you are going for a secondary offering, this was the day to do it:

7:48AM Inovio Biomed announces $30 mln registered direct offering (INO) 3.18 : Co announces that it has received commitments from institutional investors to purchase $30 mln of securities in a registered direct offering. INO expects to receive net proceeds of approximately $28.5 mln after deducting placement agent fees and other offering expenses. Under the terms of a Securities Purchase Agreement, INO will sell an aggregate of 11,111,110 shares of its common stock and warrants to purchase up to 2,777,776 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase approximately 0.25 of a share of common stock, will be sold for a purchase price of $2.70.

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