NYMX - Nymox under pressure on $8M private placement

Nymox Pharmaceutical (NYMX) trades 15.9% down premarket after entering into a definitive agreement with institutional investors in a private placement of 3.7M shares and warrants to purchase 1.83M shares at a combined purchase price of $2.18/share for gross proceeds of ~$8M.The warrants will have an exercise price of $2.50/share and will be immediately exercisable and will expire five years from the issuance date.Net proceeds to be used for general corporate purposes.Private placement is expected to close on or about Apr.30.

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Nymox under pressure on $8M private placement