New Issue: Hemispherx Biopharma plans $18.3 million registered offering of stock, warrants

By Devika Patel

Knoxville, Tenn., May 11 - Hemispherx Biopharma, Inc. announced a registered direct offering of shares for up to $18.3 million.

The company will sell common shares at $1.10 each. Investors will also receive warrants for 6,136,364 shares, which are exercisable at $1.65 for five years, and warrants for 3 million shares that are exercisable at $1.10 for 45 days.

Of the total proceeds, $15 million was expected to settle Monday. The balance will settle on Saturday.

Rodman & Renshaw, LLC is the agent.

Philadelphia-based Hemispherx develops drugs to treat debilitating disorders, like viral diseases and immune-system disorders.

Issuer:	Hemispherx Biopharma, Inc.
Issue:	Common shares
Amount:	$18.3 million
Price:	$1.10
Warrants:	For 9,136,364 shares
Warrant expiration:	Five years (for 6,136,364 shares), 45 days (for 3 million shares)
Warrant strike price:	$1.65 (for 6,136,364 shares), $1.10 (for 3 million shares)
Agent:	Rodman & Renshaw, LLC
Pricing date:	May 11
Settlement date:	May 11 (for $15 million), May 16 (for $3.3 million)
Stock symbol:	Amex: HEB
Stock price:	$1.38 at close May 8
Market capitalization:	$91.4 million

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