Maxim sells 5,147,059 shares at $0.34 per share with warrant coverage
By Devika Patel
Knoxville, Tenn., June 27 – RegeneRx Biopharmaceuticals, Inc. said it plans a $1.75 million private placement of stock. Maxim Group LLC is the agent.
The company will sell 5,147,059 common shares at $0.34 apiece. The price per share represents a 33.33% discount to $0.51, the closing share price on June 24.
The investor will also receive warrants for 5,147,059 shares, which are each exercisable at $0.51 for 66 months. The strike price is identical to the June 24 closing price.
Settlement is expected June 30.
The biopharmaceuticals developer is based in Rockville, Md.
| Issuer: | RegeneRx Biopharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $1.75 million
|
| Shares: | 5,147,059
|
| Price: | $0.34
|
| Warrants: | For 5,147,059 shares
|
| Warrant expiration: | 66 months
|
| Warrant strike price: | $0.51
|
| Agent: | Maxim Group LLC
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Stock symbol: | OTCBB: RGRX
|
| Stock price: | $0.51 at close June 24
|
| Market capitalization: | $49.42 million
|
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