Published on 9/21/2009 in the Prospect News PIPE Daily.
New Issue: Rexahn Pharmaceuticals wraps $3.5 million private placement of shares
By Devika Patel
Knoxville, Tenn., Sept. 21 - Rexahn Pharmaceuticals, Inc. sold $3.5 million of common stock to Teva Pharmaceutical Industries Ltd., according to an 8-K filed Monday with the Securities and Exchange Commission. The deal was completed Sept. 21. There may be a $750,000 second tranche.
The company sold 3,102,837 common shares at $1.128 per share.
Rexahn is a biopharmaceutical company based in Rockville, Md.
| Issuer: | Rexahn Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $3.5 million
|
| Shares: | 3,102,837
|
| Price: | $1.128
|
| Warrants: | No
|
| Investor: | Teva Pharmaceutical Industries Ltd.
|
| Settlement date: | Sept. 21
|
| Stock symbol: | Amex: RNN
|
| Stock price: | $0.94 at close Sept. 18
|
| Market capitalization: | $59.3 million
|
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