Seeking Alpha

Skystar Bio closes direct stock offering

  • Skystar Bio-Pharmaceutical Company (SKBI -6.3%) raises $5M in a direct offering of stock and warrants to an institutional investor. Under the terms of the agreement, the investor will purchase 790,514 shares of common stock at $5.06 per share and warrants to purchase up to 197,629 shares of common for an aggregate price of $4M plus 1,000 shares of convertible preferred stock and warrants to purchase 49,407 shares of common stock for an aggregate price of $1M.
  • The conversion price of the preferred stock is $5.06 and the exercise price of the warrants is $6.25. The warrants are exercisable six months following issuance and will expire 12 months from the initial exercise date.
  • Net proceeds will be used for acquisitions, licenses of new vaccine and aquaculture products, R&D and general corporate purposes.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: