Units each consist of one common share with two five-year warrants
By Devika Patel
Knoxville, Tenn., Jan. 11 – RespireRx Pharmaceuticals Inc. raised $100,000 in the first tranche of a $2.5 million private placement of units on Jan. 8, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced on Jan. 6.
The company is selling units of one common share and two warrants at $0.02218 per unit.
Each warrant is exercisable at $0.0244, or 110% of the price per unit, until Jan. 31, 2021. The strike price is a 22% premium to the $0.02 closing share price on Jan. 5.
Settlement of the final tranche is expected Feb. 29.
The pharmaceutical company is based in Glen Rock, N.J.
| Issuer: | RespireRx Pharmaceuticals Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $2.5 million
|
| Price: | $0.02218
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Jan. 31, 2021
|
| Warrant strike price: | $0.0244
|
| Pricing date: | Jan. 6
|
| Settlement dates: | Jan. 8 (for $100,000), Feb. 29
|
| Stock symbol: | OTCBB: CORX
|
| Stock price: | $0.033 at close Jan. 5
|
| Market capitalization: | $9.8 million
|
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