New Issue: Manhattan Pharmaceuticals offers details for $2.55 million units sale

By Devika Patel

Knoxville, Tenn., March 5 - Manhattan Pharmaceuticals, Inc. gave further details about a $2.55 million private placement of units in an 8-K filed Friday with the Securities and Exchange Commission. The deal settled March 2.

The company sold 101.9 units. Each unit consisted of 357,143 common shares and 535,714 warrants. Each warrant is exercisable at $0.08 for five years.

New York-based Manhattan Pharmaceuticals is a specialty health care products company.

Issuer:	Manhattan Pharmaceuticals, Inc.
Issue:	Units of 357,143 common shares and 535,714 warrants
Amount:	$2,547,500
Units:	101.9
Warrants:	535,714 warrants per unit
Warrant expiration:	Five years
Warrant strike price:	$0.08
Settlement date:	March 2
Stock symbol:	OTCBB: MHAN
Stock price:	$0.07 at close March 2
Market capitalization:	$4.59 million

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