Calypte Biomedical Corporation (CBMC.OB) Enters into $8.0 Million Common Stock Purchase Agreement with Fusion Capital
Calypte Biomedical Corporation (CBMC.OB), a developer, manufacturer and marketer of HIV diagnostic tests, announced that the company has entered into an $8.0 million common stock purchase agreement with Fusion Capital Fund II, LLC, a Chicago-based institutional investor. According to this agreement, Calypte may sell up to $8.0 million of their common stock to Fusion Capital over a 24-month period. In turn, these proceeds will be used to further develop Calypte's Aware HIV-1/2 Rapid diagnostic tests. Specifically, the purchase price of the shares will be based on the prevailing market prices of the Company's shares at the time of sale without…