ASPCF - Acerus Pharmaceuticals readies rights offering

Acerus Pharmaceuticals (ASPCF) reports offering rights to its shares holders at the close of business on October 27.Record date stockholders will receive one transferable right for each share held; for every 1.91984064 rights held, a rights holder may buy one new share of the fund at a price of $0.025 per share.The rights offering is expected to raise gross proceeds of ~$13.17M.The subscription price is ~37.97% on the ~1.010B shares outstanding as of the date and a maximum of ~526.60M shares can be issued pursuant to the rights offering, representing 52.09% of the currently issued and outstanding shares.The offering, which entitled holders of rights to additional subscription privilege under which holders of rights who fully exercise their basic subscription privilege will be entitled to subscribe pro rata for additional shares, that were not otherwise subscribed for in the rights offering.The offering will be listed for trading on the TSX beginning on October 26 under the symbol "ASP.RT"

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Acerus Pharmaceuticals readies rights offering