Woohoo... They diluted another 28 million shares into the OS for a whopping $430k. I guess that will pay executive salaries for about what, 2 weeks? What are they gonna do then, another 28 million in shares for a weeks worth of wages? They'd have been better off searching for a partner before and stayed on the Nasdaq rather than just falling off weeks in advance of when they needed to have value shown
Eh, maybe they can just drop back to the pinkie market and fit right in...
Mar 13, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Bionovo, Inc.,
a US-based drug discovery and development company, has entered into a securities
purchase agreement with investors to purchase an aggregate of 14.23 million
shares of its common stock. The aggregate purchase price for the common shares
is approximately $0.43 million.
Pursuant to the agreement, each Investor will receive a warrant exercisable into
share. The warrants shall be exercisable into an aggregate of 11,485,844 shares
at an exercise price of $0.03 per share. The Warrants expire on March 30, 2012.
Deal Value (US$ Million) 0.43
Deal Type Private Placement
Sub-Category None
Deal Status Announced: 2012-03-12
Deal Participants
Target (Company) Bionovo, Inc.
Acquirer (Company) Undisclosed Investors*
AI
Market Data 
Markets 
