03:41 PM EST - Medicago Inc. : said Tuesday that it has entered into an agency agreement and has carried-out an overnight marketed offering to sell up to about 17.3 million units at a price of $0.405 per unit, representing gross proceeds of $7 million. Medicago said it plans to use the net proceeds from the offering to fund its participation to the cost-sharing program pursuant to the previously announced Technology Investment Agreement following the award of a $21-million funding award from the Defense Advanced Research Projects Agency and for other general corporate and working capital purposes. The transaction is expected to close on or about August 19. Medicago Inc.
shares T.MDG are trading down $0.075 at $0.38.
