Cardax Announces Effectiveness of Registration Statement and Commencement of Warrant Exchange Offer
Cardax Announces Effectiveness of Registration Statement and Commencement of Warrant Exchange Offer |
[22-June-2018] |
HONOLULU, June 22, 2018 /PRNewswire/ -- Cardax, Inc. (OTCQB: CDXI) announced today that the Securities and Exchange Commission has declared effective the Company's Registration Statement on Form S-4 in connection with a one-time offer to allow holders of its $0.625 warrants expiring in February 2019 to exchange those warrants, together with a payment of $0.15 per share, for registered shares of the Company's common stock. This exchange offer is available to original holders and anyone that acquires these warrants. The exchange offer commenced today, June 22, 2018, and will expire at 5:00 p.m., New York City time, on July 23, 2018, unless extended by the Company. Any warrants that are not exchanged will remain outstanding in accordance with their original terms. Offering materials will be provided directly to warrant holders of record promptly following this announcement. Offering materials are also available at www.sec.gov or from the Company, upon request to Cardax at 2800 Woodlawn Drive, Suite 129, Honolulu, Hawaii 96822. M.M. Dillon & Co. Group LLC is acting as financial advisor and CIM Securities, LLC is acting as solicitation agent for this transaction. There are 27.7 million common shares underlying the existing $0.625 warrants, and if 50% of the warrant holders participate, net proceeds to the Company would be approximately $1.8 million from this non-dilutive financing. Cardax plans to use proceeds from this offering for general corporate purposes including its ZanthoSyn® sales and marketing program, which is focused on outreach to healthcare providers and GNC stores. We may also use proceeds from this offering for clinical development. For questions, warrant holders should contact Cardax or CIM Securities, LLC:
About Cardax About ZanthoSyn® About Astaxanthin Media and Investors Safe Harbor This press release is for informational purposes only and is neither an offer to buy, nor a solicitation of an offer to sell, the warrants or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
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Company Codes: OTC-PINK:CDXI, OTC-QB:CDXI |
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