Baxano modifies purchase agreement

  • Baxano Surgical (BAXS -3.6%modifies its Purchase Agreement with Lincoln Park Capital Fund (LPC). The number of shares it has the right to sell LPC increases 25% to 125,000 and the aggregate amount it can direct LPC to purchase over the 36-month term increases to $8.2m from $7.0M. The floor closing price that the common stock must trade above in order to be eligible to be sold to LPC decreases to $0.50 per share from $1.00 per share.
  • The company has sold ~$3.2M of common stock to LPC to date.




Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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