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Article: AltaRex and Dompe Farmaceutici Close on Private Placement.
- Article from:
- PR Newswire
- Article date:
- December 22, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. 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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Net Proceeds to AltaRex of C$7.75 million
WALTHAM, Mass., Dec. 22 /PRNewswire/ --
AltaRex Corp. (TSE: AXO, OTC: ALRXF) and Dompe Farmaceutici S.p.A. (Dompe) announced today the closing of Dompe's private placement purchase of 3,522,727 AltaRex Common Shares at C$2.20 per share for net proceeds to AltaRex of C$7.75 million. The shares are subject to a 180-day lock-up period. As a result of this purchase, Dompe will own approximately 16% of the outstanding Common Shares of the Company. Proceeds from this and other contemplated equity transactions will be used to advance development of the Company's lead products, OvaRex(R) and BrevaRex(R) MAbs.
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