By Sheri Kasprzak
Atlanta, Jan. 10 - RegeneRx finished the final tranche of a $5.86 million private placement.
In the last portion, for $4.61 million, the company sold 1,418,462 shares at $3.25 each to new institutional investors and the company's largest stockholder, Sigma-Tau Group.
The investors also received warrants for up to 25% of the common stock sold in the offering at $4.06 each for 36 months.
ThinkEquity Partners LLC was the placement agent in the deal.
On Jan. 3, the company closed a $1.25 million tranche of the offering.
Based in Bethesda, Md., RegeneRX is a biopharmaceutical company focused on the treatment of acute and chronic wounds. It plans to use the proceeds from the offering for phase II wound-healing clinical trials, research and development and general operating purposes.
| Issuer: | RegeneRx Biopharmaceuticals Inc.
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| Issue: | Stock
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| Amount: | $4.61 million
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| Shares: | 1,418,462
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| Price: | $3.25
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| Warrants: | For up to 25% of the total shares sold
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| Warrant expiration: | 36 months
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| Warrant strike price: | $4.06
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| Placement agent: | Think Equity Partners LLC
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| Investors: | Sigma-Tau Group (lead)
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| Settlement date: | Jan. 10
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| Stock price: | $4.05 at close Jan. 7
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