Aethlon Medical (OTC:AEMD) said today that it looks to raise $6m with a stock offering at $6.30 per share, including a 5-year warrant allowing the purchase of up to 3 shares per 4 shares purchased in this offering.
Aethlon is authorized to issue up to 10 million shares, with funds slated for the clinical advancement of the company’s Hemopurifier and for general purposes, the San Diego, Calif.-based company said.
Roth Capital Partners is serving as the placement agent for the offering, which is slated to close on June 26, the company said.
To enable the offering, 3 of Aethlon’s officers are waiving their right to certain stock options and warrants and making the common shares from these options available to investors, the company said. The waiver will be effective until the company increases its authorized common shares.
Last December, Aethlon said it raised $3.3 million through sales of stock to an investment fund to pursue approvals for its Hemopurifier.