Bookrunner Roth offers units of one common share and 1.75 warrants
By Devika Patel
Knoxville, Tenn., July 16 – Delcath Systems Inc. said it priced a $7.01 million public sale of units. The deal was announced on June 15.
The company will sell 9.35 million units of one common share, 0.75 of an A warrant and a B warrant at $0.75 per unit. The whole A warrants will each be exercisable at $0.87 for five years, and the B warrants will each be exercisable at $0.75 for 90 trading days.
The strike prices are a 4.82% premium and a 9.64% discount, respectively, to the July 15 closing share price of $0.83.
Roth Capital Partners is the bookrunner.
Settlement is expected July 21.
Proceeds will be used for clinical studies, commercialization, research, capital expenditures, working capital and other general corporate purposes.
Delcath is based in Stamford, Conn., where it develops isolated perfusion technology for organ or region-specific delivery of therapeutic agents.
| Issuer: | Delcath Systems Inc.
|
| Issue: | Units of one common share, 0.75 A warrant and a B warrant
|
| Amount: | $7,012,500
|
| Units: | 9.35 million
|
| Price: | $0.75
|
| Warrants: | 1.75 warrants per unit
|
| Warrant expiration: | Five years, 90 trading days
|
| Warrant strike price: | $0.87, $0.75
|
| Bookrunner: | Roth Capital Partners
|
| Announcement date: | June 15
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Stock symbol: | Nasdaq: DCTH
|
| Stock price: | $0.83 at close July 15
|
| Market capitalization: | $7.05 million
|
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