By Devika Patel
Knoxville, Tenn., March 6 - EpiCept Corp. said it will raise $4.98 million from a public offering of shares and warrants, which is being conducted by Rodman & Renshaw Capital Group, Inc.
The company will sell 5.4 million common shares at $0.9225 per share.
Investors also will receive five-year warrants to buy 2.7 million common shares at $0.86.
Proceeds will be used for general corporate purposes.
EpiCept, based in Tarrytown, N.Y., develops treatments for pain related to cancer as well as treatments for cancer.
| Issuer: | EpiCept Corp.
|
| Issue: | Common shares, warrants
|
| Amount: | $4,981,500
|
| Shares: | 5.4 million
|
| Price: | $0.9225
|
| Warrants: | For 2.7 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.86
|
| Agent: | Rodman & Renshaw Capital Group, Inc.
|
| Pricing date: | March 6
|
| Stock symbol: | Nasdaq: EPCT
|
| Stock price: | $0.87 at close March 5
|
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