TRIPOS RAISES $5.5 MILLION FROM SALE OF CONVERTIBLE
Tripos, Inc., a leading provider of drug discovery chemistry and informatics
products and services, today announced that it has completed the sale of 1.8
million shares of Convertible Preferred Stock at a price of $3.00 per share
and issued 550,000 five-year common stock warrants exercisable at $3.50 per
share to Midwood Capital, a Boston-based investment partnership. The shares
of Convertible Preferred Stock represent approximately 18 percent of Tripos'
outstanding common stock on an as-converted basis.
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