Navidea Biopharmaceuticals Announces Stock Purchase Agreement; Other Business Updates

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) ("Navideaa?? or the
"Companya??), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, today announced
execution of a Stock Purchase Agreement (the "Purchase Agreementa??) with
an existing investor, John K. Scott, Jr. (the "Investora??), pursuant to
which the Company will issue to the Investor in a private placement (the
"Private Placementa??) up to $3.0 million in shares (the "Securitiesa??) of
the Companya??s common stock, par value $0.001 per share (the "Common

Stock Purchase Agreement

The Private Placement will occur in multiple tranches. The initial
closing occurred on March 22, 2019 (the "Initial Closing Datea??), at
which the Investor purchased $50,000 worth of Securities at a per share
price of $0.14, which was the closing price of a share of Common Stock
reported on the NYSE American market for the business day immediately
before the Initial Closing Date. From time to time, on such date or
dates to be determined by the Company and the Investor, which date will
not be later than June 15, 2019 (each a "Subsequent Closing Datea??), the
Investor agrees to purchase such amount of Securities agreed upon by the
Company and the Investor, at a per share price to be determined in good
faith by the Company and the Investor which price may be less than the
greater of book or market value of one share of Common Stock within the
meaning of the NYSE American standards, provided that the total amount
of Securities sold at any Subsequent Closing shall not exceed (i) $3.0
million worth of the Securities less the aggregate purchase price paid
by the Investor to the Company for any Securities purchased at any prior
Closing, (ii) the number of shares that may be issued without violating
the rules and regulations of the NYSE American, and (iii) the amount of
shares that would result in the beneficial ownership in the Company by
the Investor and his affiliates being equal to or less than 33.0% of the
then issued and outstanding shares of Common Stock.

The Securities are subject to a 180-day lock-up and there are no
registration rights. The Company plans to use the proceeds from the
Private Placement for general working capital purposes, including,
without limitation, research and development, and other operating

"Our familya??s continued investment in Navidea reflects our ongoing
confidence in the technology and the current management of the company,a??
stated John K. Scott, Jr.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale
of these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
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