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CytoDyn raises $1.2M via private placement of common stock, warrants

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.