Company offers stock, warrants to investors via Roth Capital Partners
By Devika Patel
Knoxville, Tenn., April 4 - Nile Therapeutics, Inc. said it settled a $1.34 million registered direct offering of stock. The deal priced for $1.44 million on March 30.
The company sold 3.35 million common shares. The purchase price, of $0.40 per share, reflects a 20% discount to the $0.50 closing share price on March 29.
Investors also received warrants for 2,512,500 shares, each exercisable at $0.50, which is identical to the March 29 closing share price.
Roth Capital Partners, LLC was the agent.
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.
|
| Issue: | Common stock
|
| Amount: | $1.34 million
|
| Shares: | 3.35 million
|
| Price: | $0.40
|
| Warrants: | For 2,512,500 shares
|
| Warrant strike price: | $0.50
|
| Agent: | Roth Capital Partners, LLC
|
| Pricing date: | March 30
|
| Settlement date: | April 4
|
| Stock symbol: | Pink Sheets: NLTX
|
| Stock price: | $0.50 at close March 29
|
| Market capitalization: | $12.72 million
|
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