By Sheri Kasprzak
New York, Dec. 18 - RegeneRx Biopharmaceuticals, Inc. is gearing up to close a $9,550,002 private placement of stock with a group of accredited investors.
The investors, which include Sigma-Tau Group, the company's largest stockholder, plan to buy 5,305,557 shares at $1.80 each on Thursday.
The offering includes warrants for 2,122,222 shares, exercisable at $2.75 each.
Piper Jaffray & Co. was the placement agent.
Proceeds will be used for clinical development of the company's Thymosin beta 4 technology platform to promote cell regeneration in the skin.
Based in Bethesda, Md., RegeneRx develops molecules used to repair tissue and organs.
| Issuer: | RegeneRx Biopharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $9,550,002
|
| Shares: | 5,305,557
|
| Price: | $1.80
|
| Warrants: | For 2,122,222 shares
|
| Warrant strike price: | $2.75
|
| Investors: | Sigma-Tau Group, others
|
| Placement agent: | Piper Jaffray & Co.
|
| Announcement date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Amex: RGN
|
| Stock price: | $2.38 at close Dec. 15
|
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