good info from yhoo board..
Here's what I found from AVI press releases dating back to 2002:
3-26-02 $22 million private equity financing(2.9 mil shares @ $7.50 per share), plus warrants to purchase another 585,000 shares at $10.50 per share.
5-05-03 $15 million private placement (3 mil shares), plus warrants to purchase another 1.5 million shares at $7 per share.
10-29-03 shelf registration of 7,500,000 shares, plus option to underwriters (R&R) for option to buy 1,125,000 shares
12-4-03 $15 million direct equity placement (3,246,753 shares), plus 5-year warrants to purchase another 974,026 at $5.50 per share.
1-27-04 $7.5 mill exercising warrants issued pursuant to 12-4-03 direct equity placement under company's shelf registration (1,623,377 shares), plus new 5-year warrants to purchase 389,611 at $5.50 per share.
1-19-05 $24 million direct equity placement (8 million shares), plus 4-year warrants to purchase 1.6 million at $5 per share.
11-14-05 $22.6 million direct equity placement (6.9 million shares)
As important, it would be interesting to know how AVI's method of financing compares generally to companies of similar size and with similar clinical progress (meaning no drugs yet brought to market). Certainly licensing agreements and partnerships have been successful methods of financing used by other small biotechs, but certainly not the only methods. |
