Ladenburg is agent; proceeds fund working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 27 - Repros Therapeutics Inc. arranged an $11.09 million registered direct offering of stock on Jan. 26, according to an 8-K filed Friday with the Securities and Exchange Commission. Ladenburg Thalmann & Co. Inc. is the agent.
The company will sell 2,463,538 common shares at $4.50 per share. The price per share is a 14.12% discount to the Jan. 25 closing share price of $5.24.
Settlement is expected Jan. 31.
Proceeds will be used for working capital and general corporate purposes, including continuing clinical trials for Androxal and Proellex.
Repros Therapeutics develops drugs for the treatment of reproductive disorders. The company is based in the Woodlands, Texas.
| Issuer: | Repros Therapeutics Inc.
|
| Issue: | Common shares
|
| Amount: | $11,085,921
|
| Units: | 2,463,538
|
| Price: | $4.50
|
| Warrants: | No
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Stock symbol: | Nasdaq: RPRX
|
| Stock price: | $5.11 at close Jan. 26
|
| Market capitalization: | $57.89 million
|
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