BETHESDA, Md., Oct. 28, 2011 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today announced the closing of previously announced agreements to sell $1.25 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. Spherix has issued an aggregate of 532,559 shares of common stock at a price of $2.365 per share along with warrants to purchase an additional 532,559 shares of common stock at an exercise price of $2.24 per share. The warrants are exercisable immediately and expire in five years. The Company is required to file a resale registration statement within 30 days following the closing that covers the resale by the investors of the shares and the shares issuable upon exercise of the warrants.
Spherix Announces Closing Of Private Placement Of $1.25 Million, Discusses Use Of Proceeds
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