2023-05-01 08:27:31 ET
- Pulse Biosciences ( NASDAQ: PLSE ) has entered into a stock purchase agreement with Robert W. Duggan, the company's executive Chairman, for the purchase of ~10M shares at a price of $6.51 per share.
- The price is greater than 1% premium over the last reported sale price of the company's stock on April 28, 2023, the immediately preceding trading day.
- Upon closing, Mr. Duggan, including the principal balance of $65M and accrued and unpaid interest of ~$0.25M.
- Mr. Duggan, who beneficially owns ~62% of the company, will become the beneficial owner of ~69% of the company after giving effect to the private placement.
- The private placement is expected to close on or about May 8, 2023.
- The stock price up 6.6% on Monday pre-market.
For further details see:
Pulse Biosciences up 7% on raising $65M from chairman