Deal funds technology transfer opportunities, Ampligen manufacturing
By Devika Patel
Knoxville, Tenn., Aug. 31 – Hemispherx Biopharma, Inc. said it will raise about $5 million in a registered direct offering of units. Rodman & Renshaw is the agent.
The company will sell units of one common share and 0.75 warrants at $1.50 per unit.
The whole warrants are each exercisable at $2.00 for five years. The strike price is a 12.99% premium to the Aug. 30 closing share price of $1.77.
Settlement is expected Sept. 6.
Proceeds will be used for technology transfer opportunities, Ampligen manufacturing and other working capital and general corporate purposes.
Philadelphia-based Hemispherx develops drugs to treat debilitating disorders, like viral diseases and immune-system disorders.
| Issuer: | Hemispherx Biopharma, Inc.
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| Issue: | Units of one common share and 0.75 warrants
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| Amount: | $5 million (approximate)
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| Price: | $1.50
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| Warrants: | 0.75 warrants per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.00
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| Agent: | Rodman & Renshaw
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Stock symbol: | NYSE: HEB
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| Stock price: | $1.77 at close Aug. 30
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| Market capitalization: | $28.01 million
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