NAVB - Navidea Biopharma ends stock purchase agreement

Navidea Biopharmaceuticals (NYSE:NAVB) announced the termination of a Stock Purchase Agreement executed by the company on Aug. 30, 2020. Per the terms of the deal, investors agreed to buy up to $25M worth of shares of the company’s common stock with a par value of $0.001 per share. The investors had agreed to purchase 1M shares of common stock in total at $5.00 per share at the initial closing. However, at the initial closing Navidea (NAVB) has received only $25,000 out of $5.0M due. The initial closing was expected to occur within 45-days from the date its application to the NYSE American was approved by the stock exchange. On Dec. 14, the company has informed investors of the termination of the share purchase agreement.

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Navidea Biopharma ends stock purchase agreement