By Devika Patel
Knoxville, Tenn., Oct. 1 - RegeneRx Biopharmaceuticals, Inc. offered more details on a $3.7 million registered direct offering of shares in a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal priced Wednesday.
The company will sell 4,512,195 common shares at $0.82 per share.
Investors also will receive warrants for 2,256,098 common shares. The warrants are exercisable at $1.12 for five years.
Roth Capital Partners and Boenning & Scattergood are the agents.
Settlement is expected Monday.
Proceeds will be used for preclinical and clinical development of drug candidates and for general corporate purposes, including working capital. In addition, the company may use a portion of the proceeds to acquire drugs or drug candidates, technologies, businesses or other assets.
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: | $3.7 million
|
| Shares: | 4,512,195
|
| Price: | $0.82
|
| Warrants: | For 2,256,098 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.12
|
| Agents: | Roth Capital Partners and Boenning & Scattergood
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Stock symbol: | NYSE Amex: RGN
|
| Stock price: | $1.12 at close Sept. 29
|
| Market capitalization: | $46.2 million
|
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