| Arcadia Resources has received commitments from institutional investors to purchase $11.1 million of securities in a registered direct offering. Under the terms of separate Subscription Agreements with the investors, Arcadia will sell an aggregate of 15,857,141 units. Each unit, which consists of one share of common stock and a warrant to purchase 0.45 shares of common stock, will be sold for a purchase price of $0.70. :theflyonthewall.com |
