DOR signs $2.28M stock purchase deal

USA-based DOR BioPharma has signed a $2.28-million common stock purchase agreement with a single institutional investor.

Under the terms of the agreement, DOR will sell 20 million common shares  together with a five-year warrant to purchase up to a like number of DOR  common stock at $0.14 per share. The expiration date of the warrants  will be accelerated if the company's common stock meets certain price  thresholds and DOR would receive additional gross proceeds of  approximately $2.8 million if exercised.