Offering sells 181,488 common shares at $5.51 apiece to David Kupfer
By Devika Patel
Knoxville, Tenn., March 18 – Minerva Neurosciences, Inc. completed a $1 million private placement of stock with David Kupfer on March 17, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 181,488 common shares at $5.51 per share. The price per share is a 2.42% premium to the closing share price of $5.38 on March 16.
Proceeds will be used for pre-clinical and clinical programs, research and development and general corporate purposes.
The clinical-stage biopharmaceutical company is based in Cambridge, Mass.
Issuer: | Minerva Neurosciences, Inc.
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Issue: | Common stock
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Amount: | $1 million
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Shares: | 181,488
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Price: | $5.51
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Warrants: | No
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Investor: | David Kupfer
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Settlement date: | March 17
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Stock symbol: | Nasdaq: NERV
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Stock price: | $5.38 at close March 16
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Market capitalization: | $159.12 million
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