Roth Capital assists with offering, which includes five-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 28 - Catalyst Pharmaceutical Partners, Inc. will conduct a $6 million registered direct offering of shares, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 4 million common shares at $1.50 per share.
Investors also will receive warrants for 1.2 million common shares. The warrants are exercisable at $2.08 for five years. The strike price reflects a 10.05% premium to the Aug. 27 closing share price of $1.89.
Roth Capital Partners LLC is the agent.
Settlement is expected Aug. 31.
Proceeds will be used for continuing product development and general corporate purposes.
Catalyst is a Coral Gables, Fla.-based specialty pharmaceutical company.
| Issuer: | Catalyst Pharmaceutical Partners, Inc.
|
| Issue: | Common shares
|
| Amount: | $6 million
|
| Shares: | 4 million
|
| Price: | $1.50
|
| Warrants: | For 1.2 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.08
|
| Agent: | Roth Capital Partners LLC
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Stock symbol: | Nasdaq: CPRX
|
| Stock price: | $1.89 at close Aug. 27
|
| Market capitalization: | $40.25 million
|
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