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.

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.

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