Company sells 6,281,661 units of one share and one warrant in offering
By Devika Patel
Knoxville, Tenn., March 13 – Minerva Neurosciences, Inc. said it has negotiated a $31 million private placement of units on March 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell 6,281,661 units of one common share and one warrant at $4.935 per unit.
Each warrant is exercisable at $5.772, a 20% premium to the March 12 closing share price of $4.81.
Settlement is expected March 18.
Proceeds will be used for clinical development of Minerva’s Central Nervous System portfolio.
The clinical-stage biopharmaceutical company is based in Cambridge, Mass.
| Issuer: | Minerva Neurosciences, Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $31 million
|
| Units: | 6,281,661
|
| Price: | $4.935
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $5.772
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Stock symbol: | Nasdaq: NERV
|
| Stock price: | $4.81 at close March 12
|
| Market capitalization: | $91.46 million
|
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