Company offers 113 million common shares at $0.145 apiece to investors
By Devika Patel
Knoxville, Tenn., March 7 - RXi Pharmaceuticals Corp. said it will raise about $16.4 million in a private placement of stock. MTS Securities, LLC is the agent.
The company will sell about 113 million common shares at $0.145 apiece. The per-share price represents a 4.29% premium to the March 6 closing share price of $0.14.
OPKO Health, Inc. (OPK) and Frost Gamma Investments Trust are the lead investors. Other investors include Tang Capital Partners, LP and RTW Investments, LLC.
Settlement is expected on March 12.
Based in Lake Oswego, Ore., RXi is a biopharmaceutical company.
| Issuer: | RXi Pharmaceuticals Corp.
|
| Issue: | Common stock
|
| Amount: | $16.4 million (approximate)
|
| Shares: | 113 million (approximate)
|
| Price: | $0.145
|
| Warrants: | No
|
| Agents: | MTS Securities, LLC
|
| Investors: | OPKO Health, Inc. (OPK) and Frost Gamma Investments Trust (leads), Tang Capital Partners, LP and RTW Investments, LLC
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Stock symbol: | OTCBB: RXII
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| Stock price: | $0.14 at close March 6
|
| Market capitalization: | $30.78 million
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