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FUTUREBIOTICS IPO SEEKS TO RAISE $2 MIL FOR ACQUISITIONS

This article was originally published in The Tan Sheet

Executive Summary

FUTUREBIOTICS IPO SEEKS TO RAISE $2 MIL FOR ACQUISITIONS and product development, according to an April 21 prospectus covering the spin-off of Futurebiotics by parent company PDK Labs. Futurebiotics hopes to raise $6 mil. from the offering of 1.2 mil. units -- which include one unit of common stock and one warrant -- at $5 per unit. The company has earmarked $1.9 mil. of the proceeds to cover working capital for approximately 12 months.
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