Navigation Links
Spherix Announces Institutional Investors Purchase $5.25 Million of Convertible Preferred Stock and Warrants
Date:10/7/2010

BETHESDA, Md., Oct. 7 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced that it has entered into agreements to sell $5.25 million of shares of its Series B Convertible Preferred Stock and warrants to purchase shares of its common stock in a registered offering to institutional investors.  Each share of Series B Convertible Preferred Stock is convertible at the option of the holder, at any time during its existence, into approximately 800 shares of common stock at a conversion price of $1.25 per share of common stock for a total of approximately 4.2 million common shares.

In connection with the offering, the investors received warrants to purchase up to 2.1 million shares of common stock.  The warrants have an exercise price of $1.50 per warrant share, and are exercisable immediately upon issuance and terminate 60 months after the date of issuance.

The Company intends to use the net proceeds from the offering to continue the development of D-tagatose for diabetes and triglycerides, as well as for general corporate purposes.

Shares of the Series B Convertible Preferred Stock will receive dividends in the same amount as any dividends declared and paid on shares of common stock and have no voting rights on general corporate matters.

The closing of the offering is expected to occur on October 13, 2010 or earlier, at which time the Company will receive the cash proceeds and deliver the securities.

Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), ac
'/>"/>

SOURCE Spherix Incorporated
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine technology :

1. Spherix Completes Enrollment in NEET, a Phase 3 Clinical Trial Evaluating an Oral Drug for Type 2 Diabetes
2. Spherix to Present at Annual OneMedPlace Finance Forum and at EBD Biotech Showcase in San Francisco
3. Spherix Reports Third Quarter 2009 Earnings
4. Spherix Announces Positive Phase 2 Study Results
5. Spherix Reports First Quarter 2009 Earnings
6. Spherix Elects New Independent Director, and Elects Chairman of the Board
7. Spherix Postpones 2009 Annual Shareholders Meeting to Share Interim Diabetes Clinical Trial Data
8. Spherix Expands Phase 3 Naturlose Diabetes Trial Outside of the U.S.
9. Spherix D-tagatose to be Supplied by Inalco SpA
10. Growth Achieved in Spherixs Health Sciences Consulting Business
11. Spherix Reports Second Quarter Earnings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/1/2015)... May 1, 2015 Following yesterday,s release of Center ... here are five things you need to know: ... structure is unique among government programs. ... is different than other parts of Medicare and other government ... submit bids to offer prescription drug benefits to enrollees. ...
(Date:5/1/2015)... , May 1, 2015   Heska Corporation (NASDAQ: ... "Company"), a provider of advanced veterinary diagnostic and other ... , Executive Chair, will present at the 16th Annual B. ... May 13, 2015. The conference will be held May 12-14, ... Heska management will be available during the day ...
(Date:5/1/2015)... 2015 Braeburn Pharmaceuticals announced today ... focus beyond addiction and pain to include ... has acquired an implantable, six-month formulation of ... treatment of schizophrenia from Endo Pharmaceuticals. With ... to other potential applications of the implant ...
Breaking Medicine Technology:5 Things to Know About the CMS Part D Data Release 25 Things to Know About the CMS Part D Data Release 3Heska to Present at the 16th Annual B. Riley & Co. Investor Conference 2Braeburn Pharmaceuticals expands pipeline to include two schizophrenia treatments 2Braeburn Pharmaceuticals expands pipeline to include two schizophrenia treatments 3Braeburn Pharmaceuticals expands pipeline to include two schizophrenia treatments 4
... May 24, 2011 As Congress seeks solutions to lower health ... help them raise prescription drug costs. The Pharmaceutical Care Management Association ... costly special interest agenda. Click ... the new ad "Granting independent drugstores new ...
... 2011 A paper published in the June issue ... OVA1 to a physician,s preoperative assessment of a woman,s ... physician,s preoperative assessment alone. The study is the second ... the official publication of the American College of Obstetricians ...
Cached Medicine Technology:It's No Joke: Independent Drugstores Want Congress to Help Them Raise Prescription Drug Costs 2It's No Joke: Independent Drugstores Want Congress to Help Them Raise Prescription Drug Costs 3OVA1 Improves Ovarian Cancer Detection Over CA 125 Blood Test and Clinical Assessment 2OVA1 Improves Ovarian Cancer Detection Over CA 125 Blood Test and Clinical Assessment 3OVA1 Improves Ovarian Cancer Detection Over CA 125 Blood Test and Clinical Assessment 4
(Date:5/1/2015)... 02, 2015 IDLife LLC, a health ... to announce the addition of its newest partner and ... life long athlete, growing up in gymnastics and competitive ... by becoming a personal trainer and helping others achieve ... of several TV shows highlighting her stunning physique and ...
(Date:5/1/2015)... Pioneer Millworks, the largest reclaimed wood ... their reclaimed wood products at the 27th annual International ... in NYC this May. Their newest offerings, Vat 35, ... texture and color to North America's platform for global ... and color in the design world and we're excited ...
(Date:5/1/2015)... Royal River Natural Foods, a locally-owned independent natural ... study that found two natural nutrients, glucosamine and chondroitin, ... as well as standard drug treatment after six months ... The report is part of the May 2015 issue ... Royal River Natural Foods publishes for free each month ...
(Date:5/1/2015)... 2015 TROY Healthcare Solutions is proud ... User Group (RUG) Conference in Atlanta, GA from May ... Group Conference provides a forum for client-to-client presentations, continuing ... aspects of electronic medical record operations, as well as ... , In addition to sponsoring the event, TROY Healthcare ...
(Date:5/1/2015)... May 01, 2015 Hope For The ... of Hope For The Warriors® and military families. All ... support Hope For The Warriors®, a national nonprofit dedicated ... unit, and restoring hope for our service members and ... All American Ford collected and matched small autograph fee ...
Breaking Medicine News(10 mins):Health News:IDLife LLC Announces New Partnership with Fitness Celebrity, Jen Widerstrom 2Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 2Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 3Health News:New Study Finds Nutrients Ease Arthritis Pain, Retailer Reports 2Health News:TROY Healthcare to Exhibit at the Cerner Southeast Regional User Group Conference 2Health News:TROY Healthcare to Exhibit at the Cerner Southeast Regional User Group Conference 3Health News:All American Ford Presents Donation to Nonprofit Hope For The Warriors 2
... geographical areas in Southeast England according to a new study ... Health . The study shows that the occurrence of cervical ... Currin and her colleagues at the Thames Cancer Registry of ... cancer diagnosed between 2001 and 2005 in London, Kent, Surrey ...
... and programming in Canadian long-term care facilities fall short ... , Led by professor of Community Health and Epidemiology ... is the first comprehensive examination of these resources and ... that vulnerable long-term care residents be protected from largely ...
... 19 Esphera3 International (E3I) is a broad ... of "Patient Focused Care." Currently engaged in multiple ... of a partnered care health approach including operational ... financial operations of healthcare.E3I and its channel partners ...
... SHELBY TOWNSHIP, Mich., Feb. 19 Dr. Brett Kotlus ... Allure Medical Blog to share information,about new ... their practice. "I find that patients at our ... to sort through the tremendous,amount of information available on ...
... save lives and reduce disability, but less than 3% of ... (HealthDay News) -- A powerful clot-busting drug approved by the ... in 1996 is still rarely used in Medicare patients, new ... 495,000 admissions for stroke at the 4,750 hospitals evaluated were ...
... Insulet Corporation, (Nasdaq: PODD ), the leader ... Management System, announced plans to release its financial results ... Thursday, March 5, 2009 after the close of the ... 5:00 p.m. Eastern Time on Thursday, March 5, 2009 ...
Cached Medicine News:Health News:Infection prevention falls short in Canadian long-term care facilities 2Health News:Esphera3 International Founded on 'Patient Focused Care' 2Health News:Your Doctor Has a Blog 2Health News:Your Doctor Has a Blog 3Health News:Few Stroke Patients Get Clot-Busting Drug 2Health News:Few Stroke Patients Get Clot-Busting Drug 3
... extends that easy, breezy, beautiful image to ... an array of stylish colors, trendy shapes, ... is designed to target the broad demographics ... affordability,and high-quality, fashionable frames. The Cover Girl ...
The license agreement for the manufacturing and distribution of Bulgari eyewear was signed by Luxottica Group in 1997.,Bulgari eyewear is designed for sleek, select people who want to distinguish the...
... Brook Brothers and Luxottica Group dates ... materials and a slender line, the ... features of the style of this ... style and affordable to everyone that ...
... Ray-Ban brand debuted in 1937 with the ... was added to Luxottica Group's brand portfolio ... show business celebrities since day one, Ray-Bans ... far the best-selling sunglasses in the world. ...
Medicine Products: