Bionovo Inc., of Emeryville, Calif., said it entered a $5 million securities purchase agreement with Socius CG II Ltd., a Bermuda-based subsidiary of Socius Capital Group LLC. Under the terms, the company has the right, at its discretion, to sell to Socius up to a total of $5 million of redeemable Series A preferred stock, payable in tranches, over a two-year period.
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