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Opko Signs Deals to Place $30M in Stock, Warrants

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Opko Health said this week that it has entered into definitive agreements to privately place $30 million in preferred stock and warrants.

As part of the transaction, the company will issue roughly 1.2 million shares of an 8 percent Series D Cumulative Convertible Preferred Stock at a purchase price of $24.80 per share, and warrants to purchase an aggregate of approximately 3 million shares of its common stock.

The transaction "provides the company with additional financial resources to fund acquisitions and support bringing [its] projects and pipeline of novel drugs and products to market," Opko Chairman and CEO Phillip Frost said in a statement.

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