BioSource International Inc. raised an aggregate of $932,402when investors exercised warrants to purchase 704,500 sharesof common stock in December.
The company announced Tuesday that holders of series Fwarrants purchased 489,500 shares of common stock at anexercise price of $1.12 per share and holders of series Gwarrants purchased 489,500 shares of common stock at anexercise price of $1.75 per share. Both series of warrantsexpired on Dec. 31. The company received an aggregate of$427,248 in November when warrant holders purchased268,000 shares of stock.
BioSource (NASDAQ:BIOI) of Camarillo, Calif., is a supplier ofimmunological reagents and test kits. The company wasincorporated in 1989 and listed on NASDAQ in May 1993 afteracquiring Tago Inc., a similar company with immunologicalreagents and a manufacturing facility but no sales force. SeriesA to G warrants were issued to investors throughout thehistory of the two companies.
Following the exercise of the warrants, BioSource has 4.97million shares of common stock outstanding. The company hasapproximately $1.3 million in cash on hand and a burn rate of$300,000 to $400,000 per month.
BioSource's stock closed at $2.19 a share on Tuesday, down 3cents. -- Brenda Sandburg
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