New Issue: Nastech plans $7.93 million direct offering of shares, warrants

By Devika Patel

Knoxville, Tenn., April 25 - Nastech Pharmaceutical Co. Inc. said it has arranged a $7.93 million direct offering of stock and warrants.

The company will sell 4,585,260 common shares at $1.73 per share.

The investors also will receive seven-year warrants, for 4,585,260 common shares, exercisable at $2.38. In addition, the investors have the right to purchase up to 1,375,578 common shares at $2.17 per share during the 90-day period beginning Oct. 25.

Proceeds will be used for working capital. Settlement is expected on April 25.

Nastech is a Bothell, Wash., pharmaceutical company.

Issuer:	Nastech Pharmaceutical Co. Inc.
Issue:	Common stock, warrants
Amount:	$7,932,500
Shares:	4,585,260
Price:	$1.73
Warrants:	For 4,585,260 shares
Warrant expiration:	Seven years
Warrant strike price:	$2.38
Pricing date:	April 25
Settlement date:	April 25
Stock symbol:	Nasdaq: NSTK
Stock price:	$2.18 at close April 24

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