CFRX - ContraFect to purchase ~$7M of shares

• Clinical-stage biotechnology company ContraFect ( NASDAQ: CFRX ) is set to purchase ~$7M of its common stock.
• The company has entered into a securities purchase agreement with a single institutional investor for the purchase.
• CFRX has agreed to issue 4,350,000 shares and and pre-funded warrants to purchase 49,913,565 shares.
• The purchase price for each share and associated warrants will be $0.129.
• As part of the concurrent private placement, the company has also agreed to issue class A warrants to purchase up to an aggregate of 108,527,130 shares and class B warrants to purchase up to an aggregate of 54,263,565 shares.
• The offering is expected to close on or about Dec. 15.
• CFRX shares were trading -7.05% pre-market.
• Source: Press Release

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