May 8, 2017 8:55am
Investors Include Cedars-Sinai Medical Center and select Board Members
Capricor Therapeutics (NASDAQ: CAPR), has signed a definitive agreement for the sale of approximately $3.7 million of common stock with certain accredited investors.
The private placement is being led by Cedars-Sinai Medical Center and includes select members of the CAPR's Board of Directors.
The investors have agreed to purchase 1,196,291 shares of common stock at a price of $3.10 per share. Gross proceeds from the private placement are expected to be approximately $3.7 million.
The closing of the offering is expected to take place on or about May 10, 2017.