Financial

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.

 

SOURCE

Tags

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.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close