Financing to be conducted by joint bookrunners Burrill and Maxim Group
By Devika Patel
Knoxville, Tenn., Nov. 29 - Rexahn Pharmaceuticals, Inc. said it priced a $6.31 million public sale of units with a $946,957 greenshoe. The offering was announced Wednesday.
The company will sell 19,130,435 units of one common share and 0.55 of a warrant at $0.33 per unit. Each whole warrant will be exercisable at $0.472 for five years. The strike price is a 0.43% premium to the Nov. 28 closing share price of $0.47.
Burrill LLC and Maxim Group LLC are the joint bookrunners.
Settlement is expected Dec. 4.
Rexahn is a biopharmaceutical company based in Rockville, Md.
| Issuer: | Rexahn Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and 0.55 of a warrant
|
| Amount: | $6,313,044
|
| Greenshoe: | $946,957
|
| Units: | 19,130,435
|
| Price: | $0.33
|
| Warrants: | 0.55 of a warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.472
|
| Bookrunners: | Burrill LLC and Maxim Group LLC
|
| Announcement date: | Nov. 28
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Stock symbol: | NYSE: RNN
|
| Stock price: | $0.47 at close Nov. 28
|
| Market capitalization: | $31.39 million
|
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