KMPH - KemPharm exercises existing warrants and issues new ones in private placement

KemPharm ([[KMPH]] -2.4%) has entered into agreements with certain of its holders of existing warrants exercisable for 6.12M shares.The holders have agreed to exercise their warrants for cash in exchange for the company’s agreement to issue in a private placement new warrants to purchase up to 1.53M shares.The new warrants are immediately exercisable and have an exercise price of $16.50/share and expire on December 31, 2026.The aggregate gross proceeds from the exercise of the existing warrants and the issuance of the new warrants are expected to total about $39.1M.

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KemPharm exercises existing warrants and issues new ones in private placement