New Issue: Nastech sets terms on $7.93 million direct offering of shares, warrants

By Devika Patel

Knoxville, Tenn., April 30 - Nastech Pharmaceutical Co. Inc. announced final terms on its $7.93 million direct offering of stock and warrants, according to a prospectus supplement to a Feb. 4 prospectus, which was filed Wednesday with the Securities and Exchange Commission.

The company will sell 4,590,277 common shares at $1.728 per share.

The investors also will receive warrants for 5,967,361 common shares.

Of the warrants being offered, 4,590,277 have an exercise price of $2.376 per share and are exercisable for seven years after Oct. 25 and 1,377,084 have an exercise price of $2.17 per share and are exercisable for 90 days after Oct. 25.

Maxim Group, LLC is the placement agent.

Proceeds will be used for general corporate purposes.

Nastech is a Bothell, Wash., pharmaceutical company.

Issuer:	Nastech Pharmaceutical Co. Inc.
Issue:	Common stock, warrants
Amount:	$7,931,998.656
Shares:	4,590,277
Price:	$1.728
Warrants:	For 5,967,361 shares
Warrant expiration:	Seven years (for 4,590,277 of the warrants); 90 days (for 1,377,084 of the warrants)
Warrant strike price:	$2.376 (for 4,590,277 of the warrants); $2.17 (for 1,377,084 of the warrants)
Pricing date:	April 24
Settlement:	April 29
Placement agent:	Maxim Group, LLC
Stock symbol:	Nasdaq: NSTK
Stock price:	$1.37 at close April 30

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