StockGuru Blog: The Immune Response Corporation Reports Exercise of First Tranche of Warrants Corporation
IMNR - The Immune Response Corporation The Immune Response Corporation (OTCBB: IMNR), an immuno-pharmaceutical company, declared on 10 August that it has raised USD9.9m in gross proceeds from investors exercising 495,552,100 warrants from the first tranche warrants in the March 2006 private placement financing. The total gross proceeds include an investment of USD250,000 by Qubit LLC, an affiliate of the company’s largest stockholder and director, Kevin Kimberlin, to exercise 12,500,000 warrants. In the March financing the company issued USD8.0m of secured notes convertible into 400,000,000 common shares at USD0.02 per share, accruing interest at 8% per year and maturing on…