By Devika Patel
Knoxville, Tenn., Sept. 29 - Repros Therapeutics Inc. said it arranged a $15.6 million registered direct offering of shares. The offering is being made under an effective S-3 shelf registration statement filed with the Securities and Exchange Commission.
The company will sell 2.4 million common shares at $6.50 per share.
Settlement is expected Oct. 3.
Efficacy Capital, the company's largest stockholder, is purchasing 1,846,154 shares, and an existing institutional stockholder is purchasing 550,000 shares.
Proceeds will be used to fund the company's research and development activities and for working capital and general corporate purposes.
Repros is a pharmaceutical products company based in the Woodlands, Texas.
| Issuer: | Repros Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $15.6 million
|
| Shares: | 2.4 million
|
| Price: | $6.50
|
| Warrants: | No
|
| Investor: | Efficacy Capital (for $12 million)
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 3
|
| Stock symbol: | Nasdaq: RPRX
|
| Stock price: | $6.08 at close Sept. 26
|
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