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Article: Provectus Pharma gets $20.75M financing from Cornell Capital.(Provectus Pharmaceuticals Inc., Cornell Capital Partners L.P.)(Brief Article)
- Article from:
- Pharma Marketletter
- Article date:
- August 2, 2004
CopyrightCOPYRIGHT 2004 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Provectus Pharmaceuticals of the USA says that it has received a $20.75 million financial commitment from Cornell Capital Partners.
Under the terms of the funding agreements with Cornell Capital, Provectus has obtained $750,000 in convertible securities and a firm commitment of $20 million under a standby equity distribution agreement. Provectus may, at its discretion, issue shares to Cornell at any time over the next two years, with the maximum aggregate amount of the equity placements being $20 million. Subject to this limitation, Provectus may draw down ...
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