SEMBIOSYS ANNOUNCES $10.3 MILLION PRIVATE PLACEMENT
SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a broad pipeline of protein-based pharmaceutical product candidates and non-pharmaceutical products, announced today that it has entered into an agreement with Orion Securities Inc., as lead underwriter, for an underwritten private placement of 2,576,000 units of the Company at a price of $4.00 per unit, for gross proceeds to SemBioSys of approximately $10.3 million.
has been one heck of a capital campaign lately, announcing $2.5 million in debt financing back in November
. What is not know to me is how much of this placement will be used to repay this debt financing. Either way, it looks like the company has a product that they want to invest in