Bio-Technology General Corp. on Friday said it grossed $13million from the sale of 1.7 million units of stock and warrantsto institutional investors and private individuals.
The units, which are separable, are composed of a share ofcommon stock (NASDAQ:BTGC) and a warrant to purchase oneshare at $10.53. The warrants will expire if the stock pricereaches $15.80 for 20 consecutive days after Dec. 19, 1993, andno later than Dec. 19, 1995.
The New York company has 24.9 million shares of stockoutstanding after the offering. The stock closed at $8.63, down38 cents, on Friday.
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