RaQualia looks to raise at least $35 million

Gastrointestinal company RaQualia Pharma Inc. (JASDAQ:4579) said it hopes to raise at least Y3.3 billion ($34.7 million) through the exercise of 2,500 stock acquisition rights by Merrill Lynch Japan Securities. Each right entitles Merrill to purchase 1,000 shares at 90% of the previous day's closing price, with an initial exercise price of Y1,310, RaQualia's closing price on Friday, before the deal was announced. The minimum exercise price is Y917. RaQualia was up Y201 (15%) to Y1,511 on Monday. ...