By Sheri Kasprzak
New York, April 25 - Titan Pharmaceuticals, Inc. is gearing up to close a $10,998,900 direct placement.
A group of investors has agreed to buy 5.445 million shares at $2.02 each.
The shares are being offered under the company's shelf registration.
Rodman & Renshaw, LLC is the placement agent.
The deal is set to close upon shareholder approval.
Located in South San Francisco, Calif., Titan develops treatments for central nervous system disorders, cardiovascular disease and other disorders.
| Issuer: | Titan Pharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $10,998,900
|
| Shares: | 5.445 million
|
| Price: | $2.02
|
| Warrants: | No
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | April 25
|
| Stock symbol: | Amex: TTP
|
| Stock price: | $2.22 at close April 25
|
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