RALEIGH, N.C., Dec. 29, 2010 (GLOBE NEWSWIRE) -- DARA BioSciences, Inc. (Nasdaq:DARA) (the "Company") has priced a public offering of up to 4800 units at a price of $1000 per unit to the public with each unit consisting of (1) one share of Series A convertible preferred stock which is convertible into 400 shares of our common stock (2) a Class A Warrant to purchase 200 shares of common stock and (3) a Class B Warrant to purchase 200 shares of common stock. Subject to certain ownership limitations, the Series A preferred stock is convertible at any time at the option of the holder into shares of our common stock at a conversion price of $2.50 per share. The Company has increased the size of the offering from the previously announced $4 million to up to $4.8 million.
DARA BioSciences, Inc. Prices Registered Securities Offering
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