Agent may also sell common stock in privately negotiated transactions
By Angela McDaniels
Tacoma, Wash., Sept. 14 - Hemispherx Biopharma, Inc. plans to sell up to $75 million of its common stock through an at-the-market public offering.
Agent Maxim Group LLC will sell up to 20 million shares at varying prices from time to time on a best-efforts basis, according to a 424B5 filing with the Securities and Exchange Commission.
With the company's written consent, the agent may also sell common stock in privately negotiated transactions.
Proceeds will be used to fund the commercialization of Alferon and Ampligen along with general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments and the repayment, refinancing, redemption or repurchase of debt or stock.
Hemispherx is a pharmaceutical company based in Philadelphia. It is developing drug therapies for the treatment of viral and immune-based chronic disorders.
| Issuer: | Hemispherx Biopharma, Inc.
|
| Issue: | Common stock
|
| Amount: | Up to $75 million
|
| Shares: | Up to 20 million
|
| Price: | Varying prices
|
| Warrants: | No
|
| Agent: | Maxim Group LLC
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| Pricing date: | Sept. 14
|
| Stock symbol: | NYSE MKT: HEB
|
| Stock price: | $0.8035 at close Sept. 14
|
| Market capitalization: | $109.45 million
|
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