Redpoint Bio Corporation announced that it expects to receive $40 million in funding.
July 16, 2012 at 12:00 am EDT
Redpoint Bio Corporation (OTCPK:RPBC) announced a private placement on best effort basis of common shares for gross proceeds of $40,000,000 on July 16, 2012. Minimum investment accepted from any outside investor is $25,000. National Securities Corporation will serve as placement agent to the company and will receive $3,500,000 as sales commission. The securities will be issued pursuant to Regulation D.