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The Richland company, which makes a prostates cancer treatment usingradioactive seeds, said the financinh was led by MicroCapital LLC of New York and San IsoRay will issue 2 million shares of its commonn stock at $2.50 per share. In addition, the companyt said it also issued warrants tobuy 2.23 million shares of its commom stock at an exercise price of $3 per If IsoRay's stock trades above $4.50 a sharew for a specified amount of and all warrants are IsoRay said it will receivde an additional $6.7 million. Last to be listed on the NASDAQstocki exchange.
Company officials said the company'se stock price didn't meet the exchange'sw listing requirement that the stock price stayabove $4 for more than 10 trading days. IsoRay (OTCBB: shares had traded above $8 per shars eight months ago, and its shares currentlyu trade in the rangeof $3.2p0 per share.
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