Bioptix sells $2.3 million in private placement

BOULDER — Bioptix Inc. (Nasdaq: BIOP) sold nearly $2.3 million of its securities in a private placement with accredited investors.

The purchase price was $2.50 per unit, and each unit consisted of one share of the company’s common stock and a three-year warrant to purchase one share of stock at an exercise price of $3.50 per share. The private placement included 900,000 shares and warrants to purchase 900,000 shares of common stock.

Bioptix also entered into a separate securities purchase agreement to sell up to $4.75 million of promissory notes and three-year warrants to accredited investors. Those notes will be convertible into shares of common stock at an initial conversion price of $2.50. The purchase warrants will be exercisable into shares of common stock at an exercise price equal to $3.56 per share.

SPONSORED CONTENT

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

The news comes after a shakeup in Bioptix leadership, when a Florida shareholder forced the resignation of three of the company’s board members in January. Later that month, Bioptix said it would terminate some employees and explore strategic alternatives.