Oxygen Biotherapeutics Announces $6M in Net Proceeds from Exercise of Warrants

Oxygen Biotherapeutics

today announced the Company has received approximately $6 million through the exercise of 2,294,874 warrants between November 4, 2013 and November 6, 2013. These warrants were issued by the Company in connection with its July 2013 Series C 8% Convertible Preferred Stock financing. Following these warrant exercises, 9,112,307 shares of the Company's common stock were issued and outstanding as of November 7, 2013. “The exercise of these warrants increases our current cash on hand to approximately $8.4 million. Upon closing of the previously announced Phyxius Pharma transaction, we expect to be in a position to commence the Phase 3