Medgenics (MDGN)

[mlkrborn]

Stox and warrants sale @$4.90 ; we know bottom rock price now! : "Medgenics raises $9.5 mln in private placement (MDGN) 6.95 : Co announced it has raised gross proceeds of a~ $9.5 mln (~ $8.4 mln net) through the sale of 1,944,734 units, with each Unit consisting of one share of the Company's Common Stock, $0.0001 par value per share, and a warrant to purchase 0.75 of one share of Common Stock. Each Unit was sold for a purchase price of $4.90 to institutional and other accredited investors in a private placement transaction. The Warrants expire in five years, have an initial exercise price of $8.34 per full share and become first exercisable on December 15, 2012. Medgenics intends to use the proceeds from this private placement to further its clinical trial programs for its EPODURE Biopump producing erythropoietin for the treatment of anemia, and its INFRADURE Biopump producing interferon-alpha for the treatment of hepatitis, as well as for other research and development, patent maintenance and other intellectual property support and general corporate purposes. Maxim Group LLC acted as the exclusive placement agent for the private placement."