LOS ANGELES, Jan. 18, 2012 /PRNewswire/ -- WestPark Capital, Inc. announced the initial closing of a private placement for Arrogene NanoTechnology, Inc. on January 10, 2012. A total of 500,000 Units, each Unit consisting of one share of common stock and two common stock purchase warrants, were sold, generating gross proceeds of approximately $500,000. Proceeds from the offering will be used for working capital and research and development related to Arrogene's diagnostic and therapeutic technologies for brain, breast and lung cancer. WestPark Capital, Inc. acted as placement agent for the offering.
This news release does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The offering was made only by Confidential Private Placement Memorandum. Copies of the Confidential Private Placement Memorandum may be obtained via written request to WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, California 90067.
About WestPark Capital, Inc.
WestPark Capital is a leading investment banking and securities brokerage firm serving the needs of private and public growth companies worldwide. WestPark is committed to forging lasting partnerships with emerging growth companies and the investors who back them. WestPark provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements and corporate finance advisory services. Additional information about WestPark Capital, Inc. is available at www.wpcapital.com or at email@example.com.
About Arrogene NanoTechnology, Inc.
Arrogene NanoTechnology is developing a new generation of diagnostic and therapeutic drugs based on a new family of nano-biopolymers. Arrogene was founded in 2007 to commercialize a new cancer targeting technology and a proprietary molecular delivery platform that interferes with cancer targets to inhibit and finally eradicate tumor progression. Additional information about Arrogene is available at www.arrogene.com.
WestPark Capital, Inc.
Richard Rappaport, CEO
SOURCE WestPark Capital, Inc.