Guided Therapeutics Receives $1.65 Million from Exercised Warrants

Before you go, we thought you'd like these...
Before you go close icon

Guided Therapeutics Receives $1.65 Million from Exercised Warrants

NORCROSS, Ga.--(BUSINESS WIRE)-- Guided Therapeutics, Inc. (OTCBB: GTHP) (OTCQB: GTHP), today announced that it received approximately $1.65 million from the exercise of warrants that had an expiration date of March 1, 2013. In connection with the exercise of these warrants, the Company issued 2,539,659 shares of its common stock. The exercised warrants had an exercise price of $0.65 per share.

The Company intends to apply the proceeds to increase inventory of the LuViva® Advanced Cervical Scan device to meet current demand for the product, and expand its international marketing and sales efforts.


As of March 1, 2013, there were 12,384,777 warrants due to expire. Approximately 79.5 percent of these warrants, representing 9,845,118 shares of common stock, expired unexercised.

At March 7, 2013, the Company had outstanding warrants exercisable for approximately 8,416,735 million shares of common stock with the following expiration dates and exercise prices:

  • Warrants exercisable for approximately 472,000 shares of common stock that expire July 26, 2013, and have an exercise price of $0.65 per share. If these warrants are exercised in full, the Company would receive approximately $307,000 in cash.
  • Warrants exercisable for approximately 3.6 million shares of common stock that expire March 1, 2014, and have an exercise price of $0.65 per share. If these warrants are exercised in full, the Company would receive approximately $2.3 million in cash.
  • Warrants exercisable for approximately 472,000 shares of common stock that expire July 26, 2014, and have an exercise price of $0.80 per share. If these warrants are exercised in full, the Company would receive approximately $378,000 in cash.
  • Warrants exercisable for approximately 3.6 million shares of common stock that expire March 1, 2015, and have an exercise price of $0.80 per share. If these warrants are exercised in full, the Company would receive approximately $2.9 million in cash.
  • Warrants exercisable for approximately 7,000 shares of common stock that expire September 10, 2015, and have an exercise price of $1.01 per share. If these warrants are exercised in full, the Company would receive approximately $7,000 in cash.
  • Warrants exercisable for approximately 285,000 shares of common stock that expire November 20, 2016, and have an exercise price of $1.05 per share. If these warrants are exercised in full, the Company would receive approximately $300,000 in cash.

Including the 2,539,659 new shares issued as a result of the warrant exercises, at March 6, 2013, the Company had 64,821,980 shares outstanding.

About Guided Therapeutics

Guided Therapeutics, Inc. (OTCBB: GTHP) (OTCQB: GTHP) is developing a rapid and painless testing platform for the early detection of disease based on its patented biophotonic technology that utilizes light to detect disease at the cellular level. The Company's first planned product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial, with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. Guided Therapeutics is also developing a non-invasive test for the early detection of esophageal cancer using the technology platform. For more information, visit: www.guidedinc.com.

The Guided Therapeutics LuViva®Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use. LuViva, the wave logo and "Early detection, better outcomes" are registered trademarks owned by Guided Therapeutics, Inc.

Forward-Looking Statements Disclaimer: A number of the matters and subject areas discussed in this news release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from Guided Therapeutics' actual future experience involving any of or more of such matters and subject areas. Such risks and uncertainties include those related to the early stage of products in development, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the uncertainty of capital to develop products, the uncertainty of regulatory approval of products, dependence on licensed intellectual property, as well as those that are more fully described from time to time under the heading "Risk Factors" in Guided Therapeutics' reports filed with the SEC, including Guided Therapeutics' Annual Report on Form 10-K for the fiscal year ended December 31, 2011, and subsequent quarterly reports.



Cameron Associates
Investor Relations:
Alison Ziegler, 212-554-5469
or
Guided Therapeutics, Inc.
Bill Wells, 770-242-8723, ext. 241

KEYWORDS:   United States  North America  Georgia

INDUSTRY KEYWORDS:

The article Guided Therapeutics Receives $1.65 Million from Exercised Warrants originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners