Midtown Partners and Chardan sell units of one share and one warrant
By Devika Patel
Knoxville, Tenn., Sept. 12 - NanoViricides, Inc. said it raised about $10.33 million in a registered direct offering of units. The deal priced for about $9.3 million on Sept. 10 and was conducted by agents Midtown Partners & Co., LLC and Chardan Capital Markets, LLC.
The company sold units of one common share and one warrant at $3.50 per unit, with each warrant exercisable at $5.25 for five years.
Settlement is expected on Sept. 13.
Proceeds will be used for clinical trials and drug development.
NanoViricides is a West Haven, Conn., biopharmaceutical company.
| Issuer: | NanoViricides, Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | $10.33 million (approximate)
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| Price: | $3.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $5.25
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| Agents: | Midtown Partners & Co., LLC and Chardan Capital Markets, LLC
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| Pricing date: | Sept. 10
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| Settlement date: | Sept. 12
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| Stock symbol: | OTCBB: NNVCD
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| Stock price: | $1.36 at close Sept. 9
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