Soliton Announces $9.45 Million Private Placement
Soliton, Inc. (SOLY)
Company Research
Source: PR Newswire
HOUSTON, June 17, 2019 /PRNewswire/ -- Soliton, Inc. (NASDAQ: SOLY), a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center ("MD Anderson"), today announced that it has entered into definitive agreements with certain institutional and accredited investors to raise aggregate gross proceeds of approximately $9.45 million through the private placement of its equity securities. The financing was led by Remeditex Ventures, LLC, the Company's largest shareholder, which agreed to purchase $5.0 million of the securities in the private placement.Soliton will sell an aggregate of 675,000 shares of the Company's common stock at $14.00 per share. Each share will be sold together with a warrant to purchase 0.7 shares of common stock. Each warrant has an exercise price of $16.00 per share. The warrants are exercisable on the effective date of the registration statement pursuant to which the resale of
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