Aegis Capital helps fund Abili-T clinical study, corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 23 - Opexa Therapeutics, Inc. said the underwriters for it public offering of stock opted to exercise the deal's $1.05 million greenshoe in full for total proceeds of $8.05 million. The deal was announced Dec. 17 and priced for $7 million with the greenshoe on Dec. 18.
The company sold 4,738,000 common shares at $1.70 per share. The price per share is a 9.58% discount to the Dec. 17 closing share price of $1.88. Of the shares, 618,000 were part of the fully exercised greenshoe.
Aegis Capital Corp. was the sole book running manager.
Proceeds will be used for general corporate purposes, including working capital, research and development, business development and operational purposes, and for the Abili-T clinical study.
The Woodlands, Texas-based Opexa develops and commercializes cell therapies to treat autoimmune diseases, such as multiple sclerosis, rheumatoid arthritis and diabetes.
| Issuer: | Opexa Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $8,054,600 (including $1,050,600 greenshoe)
|
| Shares: | 4,738,000
|
| Price: | $1.70
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Dec. 17
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $1.88 at close Dec. 17
|
| Market capitalization: | $38.83 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
