Based in Vancouver - Allontherapeutics, a biotechnology company with 3 Phase II programs advancing its neuroprotective drugs against conditions such as Alzheimer's, cognitive impairment, stroke, and neuropathy just announced a $15 million dollar bought deal financing agreement. Under the agreement a syndicate of securities dealers has agreed to purchase 12,500,000 units at a price of $1.20 per Unit, resulting in gross proceeds of $15 million.
According to the press release (http://www.allontherapeutics.com/ir_news_may08_2007.htm) "Each Unit will consist of one common share of the Corporation (a “Common Shareâ€) and one half of one Common Share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $1.65 for a term of 24 months."
The Company is listed on the Toronto Stock Exchange under the trading symbol "NPC" (Neuro Protection CompanyTM)