Company offers stock, warrants to investors via Roth Capital Partners
By Devika Patel
Knoxville, Tenn., March 30 - Nile Therapeutics, Inc. said it will conduct a $1.44 million registered direct offering of stock. Roth Capital Partners, LLC is the agent.
The company will sell 3.6 million common shares. The purchase price, $0.40 per share, reflects a 20% discount to the $0.50 closing share price on March 29.
Investors also will receive warrants for 2.7 million shares, each exercisable at $0.50, which is identical to the March 29 closing share price.
Settlement is expected April 4.
Proceeds will be used for general corporate purposes, including activities related to the Phase 2 clinical trial of cenderitide.
San Francisco-based Nile is a biopharmaceutical company.
Issuer: | Nile Therapeutics, Inc.
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Issue: | Common stock
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Amount: | $1.44 million
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Shares: | 3.6 million
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Price: | $0.40
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Warrants: | For 2.7 million shares
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Warrant strike price: | $0.50
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Agent: | Roth Capital Partners, LLC
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Pricing date: | March 30
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Settlement date: | April 4
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Stock symbol: | Pink Sheets: NLTX
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Stock price: | $0.50 at close March 29
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Market capitalization: | $19.85 million
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