www.fdanews.com/articles/75567-nutra-pharma-announces-9-6-million-financing-agreement
NUTRA PHARMA ANNOUNCES $9.6 MILLION FINANCING AGREEMENT
August 19, 2005
Nutra Pharma Corp. (OTCBB:NPHC), a biotechnology holding company that owns rights to intellectual property related to the development of drugs for Multiple Sclerosis and HIV, has announced that they have entered into a stock purchase agreement with SBI Brightline XII LLC. The agreement obligates SBI to purchase, upon Nutra Pharma's election, up to 24,000,000 shares of common stock for an aggregate purchase price of $9.6 million. Additionally, SBI will be issued up to 6,000,000 warrants exercisable in the range from $0.30 to $0.50.
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