Advanced Life Sciences (ADLS) Announces $20M Private Placement
Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS) entered into definitive securities purchase agreements to raise approximately $20 million of gross proceeds through a private placement of approximately 10.2 million shares of common stock and warrants to purchase approximately 5.1 million shares of common stock to a group of new and existing institutional investors. The purchase price for each share of common stock is $1.90 and the warrants are exercisable from the date of grant until the fifth anniversary of such date at an exercise price of $2.15 per share of common stock.
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