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MORRISVILLE, N.C.--(BUSINESS WIRE)--Oxygen Biotherapeutics, Inc. (NASDAQ: OXBT) today announced the pricing of a public offering and the entry into definitive agreements with investors for the sale of securities with gross proceeds to the Company of approximately $5.4 million. Under the terms of the agreements, Oxygen will issue registered shares of Series C 8% convertible preferred stock (the “Series C Stock”) with an aggregate stated value of approximately $5.4 million, which are convertible into common stock of the Company at $1.95 per share. The transaction also provides for the issuance by the Company of registered warrants, exercisable for six years, to purchase up to an aggregate of approximately 2.8 million shares of common stock of the Company with an initial exercise price of $2.60.
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MORRISVILLE, N.C.--(BUSINESS WIRE)--Oxygen Biotherapeutics, Inc. (NASDAQ: OXBT) today announced the pricing of a public offering and the entry into definitive agreements with investors for the sale of securities with gross proceeds to the Company of approximately $5.4 million. Under the terms of the agreements, Oxygen will issue registered shares of Series C 8% convertible preferred stock (the “Series C Stock”) with an aggregate stated value of approximately $5.4 million, which are convertible into common stock of the Company at $1.95 per share. The transaction also provides for the issuance by the Company of registered warrants, exercisable for six years, to purchase up to an aggregate of approximately 2.8 million shares of common stock of the Company with an initial exercise price of $2.60.
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