Jones Lang LaSalle
NexMed raises capital
NexMed, a Robbinsville-based medical technology company, said it has raised $8.3 million from a private placement of its securities to institutional investors, including Southpoint Capital Advisors and Loeb Partners Corporation.
NexMed agreed to sell 9,347,191 shares of its common stock at $0.89 per share. The investors will also receive four-year warrants to purchase 3,738,876 shares of common stock at an exercise price of $1.11 per share.
The warrants will be redeemable by the company at $1 per share if the closing sales price of its common stock is above $5 for 10 consecutive trading days.
-- Star-Ledger staff
NexMed raises capital
NexMed, a Robbinsville-based medical technology company, said it has raised $8.3 million from a private placement of its securities to institutional investors, including Southpoint Capital Advisors and Loeb Partners Corporation.
NexMed agreed to sell 9,347,191 shares of its common stock at $0.89 per share. The investors will also receive four-year warrants to purchase 3,738,876 shares of common stock at an exercise price of $1.11 per share.
The warrants will be redeemable by the company at $1 per share if the closing sales price of its common stock is above $5 for 10 consecutive trading days.
-- Star-Ledger staff
posted by Jones Lang LaSalle NJ News Blog at 11:20 AM
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