Replicel closes Private Placement
So, Replicel just announces the closing of a private placement to provide working capital, which will provide an additional $1.3 Million for funding. The shares were priced at $1.50, with warrants at $2.50/share that can be used in the next 24 months.
Quick Thoughts:
1) Working capital needs imply the need for capital for future use.
2) Whomever the private placement purchaser was, this investor or group of investors seems believe that there is some value in the warrants at $2.50/share, which is a good thing.
3) The $1.50/share purchase price is obviously at a discount to market, so I am not sure what will happen to the share price tomorrow.
4) I remember reading somewhere that they were indending on additional funding prior to going to phase II, so there is not much of a surprise here.
http://www.marketwire.com/press-rele...cf-1638190.htm