Corautus Genetics (AMEX: CAQ) has closed on a $1 million private placement by issuing more than 250,000 shares of common stock.
The shares were priced at 90 percent of the price at which common stock of Corautus was traded on the day prior to the date of the contract.
Under the terms of the transaction, the investors also received warrants for some 50,000 common shares, exercisable at $6.76 a share, which was 125 percent of the closing price of the common stock on the date prior to the closing.
Corautus raised an additional $5.3 million of equity on Jan. 21 to fund an upcoming clinical trial for its cardiovascular drug VEGF-2, which is set for a Phase IIb clinical trial.
On Jan. 12, Atlanta-based Corautus Genetics closed a $2.15 million private placement.
Corautus Genetics: www.corautus.com