Spherix (SPEX) Closes $2.6M Common, Warrant Offering
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Spherix Inc. (Nasdaq: SPEX) announced the closing of previously reported agreements to sell $2.6 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. Spherix has issued an aggregate of 483,657 shares of common stock at a price of $5.324 per share along with warrants to purchase an additional 483,657 shares of common stock at an exercise price of $6.53 per share. The warrants shall be exercisable for a period of five years, but will not be effective until approved by the shareholders of the Company.
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