By Devika Patel
Knoxville, Tenn., Feb. 27 - RegeneRx Biopharmaceuticals, Inc. will raise $5 million from a private placement of shares and warrants, according to an 8-K filing Wednesday with the Securities and Exchange Commission.
The company will sell 5 million common shares at $1.00 per share.
Investors also will receive three-year warrants for 1 million common shares. The warrants are exercisable at $1.60 per share.
Settlement is expected on Feb. 29.
Based in Bethesda, Md., RegeneRx is a biopharmaceutical company focused on the treatment of acute and chronic wounds.
| Issuer: | RegeneRx Biopharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $5 million
|
| Shares: | 5 million
|
| Price: | $1.00
|
| Warrants: | For 1 million shares
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| Warrant expiration: | Three years
|
| Warrant strike price: | $1.60
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| Pricing date: | Feb. 27
|
| Settlement date: | Feb. 29
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| Stock symbol: | Amex: RGN
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| Stock price: | $1.00 at close Feb. 26
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