Pulse Biosciences Stock Is Trading Higher After Company's Chairman Agrees To Buy Shares Worth $50M

  • Pulse Biosciences Inc's PLSE Board Chairman, Robert W. Duggan, will purchase 3.04 million common shares at $16.40 per share in a private placement.
  • All indebtedness owed by the Company to Mr. Duggan under the loan agreement dated March 11, including the principal balance of $41 million and interest of $0.6 million, will be paid through the cancellation and extinguishment of such indebtedness and the issuance of shares in the private placement. 
  • As part of the private placement, Mr. Duggan will invest an additional $8.4 million in new capital.
  • Mr. Duggan, who currently owns approximately 46% of the Company's outstanding common stock, will own 51% after giving effect to the private placement. 
  • The private placement will close by July 7.
  • Price Action: PLSE shares are up 26.3% at $20.72 during the market session on the last check Thursday.
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