Home » ELITE ANNOUNCES CLOSING OF $10,000,000 PRIVATE PLACEMENT
ELITE ANNOUNCES CLOSING OF $10,000,000 PRIVATE PLACEMENT
Elite Pharmaceuticals, Inc. has completed a private placement of $10,000,000 to a group of institutional and other private investors through the issuance of 10,000 shares of its Series B Preferred Stock at a price of $1,000 per share, each share initially convertible at $2.25 into 444.4444 shares of Common Stock, or an aggregate of 4,444,444 shares of Common Stock. Each purchaser of Series B Preferred Stock shall also receive two Common Stock purchase warrants.
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KEYWORDS Daily International Pharma Alert
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