Scientific Learning Corp. (fka SCIL)

[mlkrborn]

Scientific Learning announces private placement of $7.2 mln (SCIL) 1.65 : Co announced it has entered into definitive agreements in connection with a private placement of equity for gross proceeds of $7.2 mln. Co sold units of common stock and warrants priced at $1.73 per unit. The Company will issue approximately 4.2 mln shares of common stock and warrants to acquire up to approximately 2.5 mln shares of common stock. The warrants have an exercise price of $1.82 per share. The financing is expected to settle on March 28, 2012, subject to customary closing conditions. First Analysis Securities Corporation has acted as the exclusive placement agent on this transaction.