1,644,500 shares sold at $2.25 each with warrants for 1,223,375 shares
By Devika Patel
Knoxville, Tenn., June 17 – Rock Creek Pharmaceuticals, Inc. arranged a $3.7 million registered direct offering of stock on June 16, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Maxim Group LLC is the agent.
The company will sell 1,644,500 common shares at $2.25 apiece. The price per share is a 20.5% discount to the June 15 closing share price, $2.83.
The investors also will receive five-year warrants for 1,223,375 shares, which are exercisable at $2.83, which is identical to the June 15 closing share price.
Settlement is expected June 19.
Proceeds will be used for clinical development activities, working capital, and general corporate purposes.
The pharmaceutical company is based in Sarasota, Fla.
| Issuer: | Rock Creek Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,700,125
|
| Shares: | 1,644,500
|
| Price: | $2.25
|
| Warrants: | For 1,223,375 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.83
|
| Agent: | Maxim Group LLC
|
| Pricing date: | June 16
|
| Settlement date: | June 19
|
| Stock symbol: | Nasdaq: RCPI
|
| Stock price: | $2.83 at close June 15
|
| Market capitalization: | $15.8 million
|
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