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PURE Bioscience, Inc. Message Board

  • pl10bagger pl10bagger Nov 22, 2011 1:19 AM Flag

    ATM Program: Could Cause Stock Price To Fall? Really!

    07/31/11, 10-K

    Sales of our common stock in our ATM Program, or the perception that such sales may occur, could cause the market price of our common stock to fall

    On April 29, 2011, we entered into a sales agreement with C. K. Cooper & Company, or CKCC, an investment banking firm, under which we may issue and sell shares of our common stock for consideration of up to $7.0 million, from time to time in an at the market equity offering program, or ATM Program, with CKCC acting as our agent. As of October 25, 2011, we have sold 3,557,371 shares of our common stock for net proceeds of $3,757,000 pursuant to the ATM Program. Continued sales of our common stock, if any, under the ATM Program will depend upon market conditions and other factors to be determined by us and may be made in negotiated transactions or transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act. Future sales of our common stock are not guaranteed, and there are no firm commitments to receive funding under the ATM Program. The issuance from time to time of these new shares of common stock, or our ability to issue these new shares of common stock in this offering, could have the effect of depressing the market price of our common stock.

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