CytoDyn Inc. issued a total of 2,325,540 common shares at 50 cents apiece in a private placement with accredited investors, raising gross proceeds of about $1.2 million.
The shares were bundled with five-year warrants to buy 2,325,540 common shares at an exercise price of 75 cents apiece.
The Washington-based biotechnology company conducted the private placement between Feb. 1 and Feb. 7.
