CytoDyn Inc. raised about $1.4 million through private placements of shares and warrants sold together at 50 cents per fixed combination.
The Vancouver, Wash.-based developer of antibodies to treat HIV said each fixed combination comprised 1 common share and 0.5 of a warrant.
Each whole warrant entitles the holder to buy a common share for 75 cents and can be exercised for five years.
In total, CytoDyn sold 2,772,000 common shares along with warrants to buy 1,386,000 common shares.
The company recently raised $6.5 million through similar private placements of shares and warrants.