PURE (PURE) Announces Purchase Agreement with Lincoln Park Capital for Up to $10M
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PURE Bioscience, Inc. (NASDAQ: PURE) today announced that it has entered into two purchase agreements with Lincoln Park Capital Fund, LLC, a Chicago-based institutional investor, for the sale of up to a total of $10 million of its common stock.
The first purchase agreement commits LPC to purchase up to $7.5 million of PURE common stock, from time to time, over a 36-month period. The securities under this purchase agreement are subject to certain conditions including the effectiveness of a registration statement to be filed with the US Securities and Exchange Commission covering the resale of the shares that may be issued to LPC.
The second purchase agreement commits LPC to purchase up to $2.5 million of PURE common stock, from time to time, over a 36-month period, including an initial investment of $500,000. The securities under this purchase agreement were offered through a prospectus supplement pursuant to PURE’s effective shelf registration statement and base prospectus contained therein.
The first purchase agreement commits LPC to purchase up to $7.5 million of PURE common stock, from time to time, over a 36-month period. The securities under this purchase agreement are subject to certain conditions including the effectiveness of a registration statement to be filed with the US Securities and Exchange Commission covering the resale of the shares that may be issued to LPC.
The second purchase agreement commits LPC to purchase up to $2.5 million of PURE common stock, from time to time, over a 36-month period, including an initial investment of $500,000. The securities under this purchase agreement were offered through a prospectus supplement pursuant to PURE’s effective shelf registration statement and base prospectus contained therein.
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