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Cardax Announces Successful Completion of Warrant Exchange Offer
Cardax Announces Successful Completion of Warrant Exchange Offer.
About this update from Cardax Inc
[{"type":"text","content":"\n\n\n\nCardax Announces Successful Completion of Warrant Exchange Offer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvam{\nVERTICAL-ALIGN: MIDDLE\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nCardax Announces Successful Completion of Warrant Exchange Offer\nCompany Raises $1.44 Million in Non-Dilutive Financing\nPR Newswire\nHONOLULU, July 30, 2018\n\n\n\nHONOLULU, July 30, 2018 /PRNewswire/ -- Cardax, Inc. (OTCQB: CDXI) announced today that it successfully closed its warrant exchange offer (\"Exchange Offer\") on Friday, July 27, 2018, at 5:00 p.m., Eastern Daylight Time. The Exchange Offer allowed holders of Cardax $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. \n\n9.6 million warrants were exchanged pursuant to the Exchange Offer and resulted in gross proceeds to the Company of $1.44 million. The Company plans to use the proceeds for general corporate purposes, including its ZanthoSyn® sales and marketing program as well as its clinical development and orphan drug programs.\n\n\"We are pleased to complete this non-dilutive financing transaction,\" said David G. Watumull, Cardax President and CEO. \"As always, we are grateful to our shareholders for their continued support.\"\n\nM.M. Dillon & Co. Group LLC acted as financial advisor and CIM Securities, LLC acted as solicitation agent for this transaction.\n\nAbout CardaxCardax devotes substantially all of its efforts to developing and commercializing dietary supplements and pharmaceuticals. Cardax is initially focusing on astaxanthin, which is a powerful and safe naturally occurring anti-inflammatory that supports health and longevity.*...