By Sheri Kasprzak
New York, Nov. 28 - Delcath Systems, Inc. said it has secured $2.5 million from a private placement of stock.
A group of institutional and accredited investors agreed to buy 753,012 shares at $3.32 each.
The investors will also receive warrants for 188,000 series A shares. The terms of the warrants could not be determined Monday.
H.C. Wainwright & Co., Inc. was the placement agent.
Proceeds will be used for pending clinical trials.
Based in Stamford, Conn., Delcath develops isolated perfusion technology for organ- or region-specific delivery of therapeutic agents.
| Issuer: | Delcath Systems, Inc.
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| Issue: | Stock
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| Amount: | $2.5 million
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| Shares: | 753,012
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| Price: | $3.32
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| Warrants: | For 188,000 series A shares
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| Placement agent: | H.C. Wainwright & Co., Inc.
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| Announcement date: | Nov. 28
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| Stock price: | $3.55 at close Nov. 25
|
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