Ms. Kristine DiMatteo reports
PIVOTAL THERAPEUTICS ANNOUNCES PROPOSED PRIVATE PLACEMENT
Pivotal Therapeutics Inc. proposes to raise up to $1.54-million through a non-brokered private placement of up to 22 million common shares of the company at a price of seven cents per common share. Finders' fees will be paid in connection with the private placement.
The completion of the financing is dependent upon receiving the prior written consent of the company's existing convertible promissory noteholders, such consent not to be unreasonably withheld or delayed. One significant noteholder has already given its consent.
The net proceeds of the private placement will be used for general working capital.
We seek Safe Harbor.
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