VTGN - VistaGen Therapeutics prices 63M equity offering shares up 6.8% premarket

VistaGen Therapeutics (VTGN) has priced 63M common shares at $0.92/share and 2M shares of its Series D convertible preferred stock at $21.16/share, for gross proceeds of $100M. Each share of the Series D Preferred Stock will be initially convertible into 23 common shares at any time at the holder's option. Offering is expected to close on December 22. Net proceeds will be used for research, development and manufacturing and regulatory expenses associated with continuing development of PH94B, PH10, AV-101, and potential drug candidates to expand its CNS pipeline and for other working capital and general corporate purposes.Shares up 6.8% premarket.

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VistaGen Therapeutics prices 63M equity offering, shares up 6.8% premarket