Roth Capital Partners helps raise funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 23 - Delcath Systems, Inc. said it priced a $7.55 million public offering of units. Roth Capital Partners, LLC is the agent.
The company will sell 20.96 million units of one common share and 0.45 warrants at $0.36 per unit. The whole warrants are exercisable at $0.44 for five years. The strike price is a 4.76% premium to the Oct. 22 closing share price of $0.42.
Settlement is expected Oct. 28.
Proceeds will be used for general corporate purposes, including clinical trials, product commercialization, research, capital expenditures and working capital.
The pharmaceutical and medical device company is based in New York.
Issuer: | Delcath Systems, Inc.
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Issue: | Units of one common share and 0.45 warrants
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Amount: | $7,545,600
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Units: | 20.96 million
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Price: | $0.36
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Warrants: | 0.45 warrants per unit
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Warrant expiration: | Five years
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Warrant strike price: | $0.44
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Agent: | Roth Capital Partners, LLC
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Pricing date: | Oct. 23
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Settlement date: | Oct. 28
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Stock symbol: | Nasdaq: DCTH
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Stock price: | $0.42 at close Oct. 22
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Market capitalization: | $31.1 million
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