By Jennifer Chiou
New York, Jan. 14 - MDRNA, Inc. said it entered into an agreement to raise $5.5 million through a registered direct offering of stock with agent Canaccord Adams Inc.
The company will sell 5,385,557 common shares at $1.02125 apiece.
Investors will also receive warrants for 3,500,612 shares, which are exercisable at $1.00 for five years.
Settlement is expected on Jan. 19.
Proceeds will be used for the satisfaction of all amounts due under the company's secured promissory notes that were issued in December as well as to provide working capital and resources.
Based in Bothell, Wash., MDRNA is a biotechnology company focused on the discovery, development and commercialization of pharmaceuticals based on RNA interference.
| Issuer: | MDRNA, Inc.
|
| Issue: | Common stock
|
| Amount: | $5.5 million
|
| Shares: | 5,385,557
|
| Price: | $1.02125
|
| Warrants: | For 3,500,612 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.00
|
| Agent: | Canaccord Adams Inc.
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 19
|
| Stock symbol: | Nasdaq: MRNA
|
| Stock price: | $0.95 at close Jan. 12
|
| $1.39 at close Jan. 13
|
| Market capitalization: | $42.03 million
|
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