On December 26, 2019, Regulus Therapeutics Inc. (NasdaqCM:RGLS) closed the transaction. The company amended the terms of the transaction. The company will now issue non-voting Class A-2 convertible preferred stock and warrants in the transaction. Each share of non-voting Class A-2 convertible preferred stock is convertible into 10 common shares and the warrants will be exercisable for a period of five years following the date of issuance and have an exercise price of $6.66 per share. On the same day the company received its third and final tranche of $26,000,000 through the issuance of 3,288,390 shares of non-voting Class A-2 convertible preferred stock and warrants to purchase an aggregate of 32,883,900 common shares. The tranche included participation from Stelios Papadopoulos, Ph.D. for $669,443.78, Joseph Hagan for $59,998.16, William H. Rastetter for $178,722.14 and Pascale Witz for $53,555.02. The company paid other expenses in cash $1400,000 in the transaction.