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Prana Biotechnology Secures $6m Additional Financing
Wednesday September 9, 2009, 9:12 am

Original Announcement: Prana Secures $6 million Additional Financing

Prana Biotechnology announced that it has reached agreement to raise $6m to support its R&D programs, to promote its drug development pipeline and to maintain corporate activities. The funds come from an existing shareholder. Under the terms of the funding, the Company will issue 30m ordinary shares at a price of 20 cents per share. The investor will also receive 10m free attaching options each to acquire 1 ordinary share at an exercise price of 30 cents and expiring 4 years from the date of issue of the abovementioned shares. The Company will receive $5.7m net of all fees.

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