By Sheri Kasprzak
New York, May 10 - Emisphere Technologies, Inc. has sealed agreements with investors for a $33.04 million direct placement of stock.
The company intends to sell 4 million shares at $8.26 each.
The shares will be offered under the company's registration statement.
ThinkEquity Partners, LLC was the lead agent with WR Hambrecht & Co. and WBB Securities, LLC as co-agents.
The proceeds will be used for the development of lead clinical programs, as well as for general corporate purposes.
The deal is slated to close May 15.
Headquartered in Tarrytown, N.Y., Emisphere is a biopharmaceutical company focused on developing oral delivery of drugs that would otherwise only be delivered through injection.
| Issuer: | Emisphere Technologies, Inc.
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| Issue: | Stock
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| Amount: | $33.04 million
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| Shares: | 4 million
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| Price: | $8.26
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| Warrants: | No
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| Placement agents: | ThinkEquity Partners, LLC (lead); WR Hambrecht & Co.; WBB Securities, LLC
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| Announcement date: | May 10
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| Settlement date: | May 15
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| Stock symbol: | Nasdaq: EMIS
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| Stock price: | $9.72 at close May 10
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