By Sheri Kasprzak
New York, June 29 - EpiCept Corp. is gearing up to wrap a $9.945 million private placement of shares.
The deal includes 5.1 million shares at $1.95 each and warrants for 2.56 million shares, exercisable at $2.93 each for five years.
Rodman & Renshaw LLC and Banc of America Securities LLC were placement agents.
EpiCept, based in Tarrytown, N.Y., develops treatments for pain related to cancer as well as treatments for cancer.
| Issuer: | EpiCept Corp.
|
| Issue: | Stock
|
| Amount: | $9.945 million
|
| Shares: | 5.1 million
|
| Price: | $1.95
|
| Warrants: | For 2.56 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.93
|
| Agents: | Rodman & Renshaw LLC and Banc of America Securities LLC
|
| Announcement date: | June 29
|
| Stock symbol: | Nasdaq: EPCT
|
| Stock price: | $2.15 at close June 29
|
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