Offering includes warrant coverage; Roth Capital Partners is the agent
By Devika Patel
Knoxville, Tenn., Feb. 12 - Desert Gateway Inc. said it has arranged a private placement of stock to raise about $10 million. Roth Capital Partners, LLC is the agent.
The company will sell 3,333,332 common shares.
The investors will also receive warrants for 1,530,559 shares.
The company intends to invest the proceeds to advance its pipeline of rare-disease drug candidates, including its lead compound, RE-021, for focal segmental glomerulosclerosis.
The biopharmaceutical company is based in New York.
| Issuer: | Desert Gateway Inc.
|
| Issue: | Common shares
|
| Amount: | $10 million (approximate)
|
| Shares: | 3,333,332
|
| Warrants: | For 1,530,559 shares
|
| Agent: | Roth Capital Partners, LLC
|
| Pricing date: | Feb. 12
|
| Stock symbol: | OTCBB: RTRX
|
| Stock price: | $3.20 at close Feb. 11
|
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