NU Online News Service, Sept. 28, 2:25 p.m. – HealthExtras Inc., Rockville, Md., a company that sells health and disability insurance products and related products through the Web, says it has raised more than $12 million in cash by selling 3 million shares of common stock for $4.67 per share through a private placement.
The company has also issued 840,000 warrants at 115% of $4.67 per share. If the buyer exercises the warrants, HealthExtras will get another $4.5 million, the company says.
Unregistered securities are securities that can only be sold to large, sophisticated investors, such as institutional investors, and not to ordinary retail customers.
