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news.Cardium Therapeutics has completed a registered direct offering with accredited investors for the purchase of shares of its common stock and warrants to purchase additional shares of its common stock.
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The transaction resulted in gross proceeds to Cardium of approximately $3.34 million, before placement agent fees and offering expenses and excluding any future proceeds from the exercise of the warrants issued in the offering.
Cardium intends to use the proceeds for general working capital purposes. Empire Asset Management acted as financial advisor and the sole placement agent for the transaction.