Bio-Technology General Corp. said it raised $2.9 million in asecond closing of a private placement of common stock andwarrants, bringing to $6 million the total raised.
The New York-based company sold 552,386 units of stock andwarrants at $5.25 per unit. In the first closing, announced Aug.26, BTGC sold 590,471 units, raising $3.1 million. The unitsinclude one share of stock and a warrant to purchase one-halfshare of stock at $8 per whole share.
BTGC stock (NASDAQ:BTGC) closed Tuesday at $6.06, down 6cents.
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