AMPE - Ampio Pharmaceuticals prices $22.5M stock offering

Ampio Pharmaceuticals (NYSE:AMPE) trades 4.1% down premarket after it entered into definitive agreements with institutional investors for the purchase and sale of 25M shares and warrants to purchase 15M shares at a combined purchase price of $0.90/share in a registered direct offering. The warrants will have an exercise price of $1.10/share, will be exercisable immediately and will expire five years from issuance date. Offer closing is expected to occur on or about Dec.15. Gross proceeds are expected to be $22.5M; net proceeds to be used for general corporate purposes, which may include working capital and the conduct of clinical trials.

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Ampio Pharmaceuticals prices $22.5M stock offering