By LLuvia Mares
New York, Sept. 18 - Delcath Systems, Inc. plans to raise $14.2 million through a registered direct offering of stock and warrants.
The company will sell 3,833,108 units at $3.70 each. Each unit is made up of one share and half a warrant exercisable at $4.53 per share.
The transaction is expected to close Sept. 21.
Canaccord Adams Inc. is the lead placement agent and ThinkEquity Partners, LLC is co-lead.
Proceeds will be used to continue advancement of the company's phase 2 and phase 3 clinical trials, to fund new research and development activities and for other general corporate purposes.
New York-based Delcath is the developer of percutaneous perfusion technology for organ or region-specific delivery of therapeutic and chemotherapeutic agents.
Issuer: Delcath Systems, Inc.
Issue: Units of stock and 0.5 warrants
Amount: $14.2 million
Price: $3.70
| Shares: | 3,833,108 shares
|
| Warrants: | For 1,916,554 shares
|
| Warrant strike price: | $3.70
|
| Warrant expiration: | Not available
|
| Placement agent: | Canaccord Adams Inc. (lead) and ThinkEquity Partners, LLC
|
| Settlement date: | Sept. 21
|
| Stock symbol: | Nasdaq: DCTH
|
| Stock price: | $4.05 at close Sept. 17
|
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