2023-07-12 09:34:18 ET
- PainReform ( NASDAQ: PRFX ) has entered into a definitive agreement for the purchase and sale of 301,230 of the Co.’s ordinary shares, at a purchase price of $9/ordinary share, in a registered direct offering.
- In a concurrent private placement, the Co. has agreed to issue in the offering unregistered warrants to purchase up to an aggregate of 301,230 ordinary shares.
- The warrants will have an exercise price $9/share, will become exercisable immediately upon issuance and have a term of 5 years from the date of issuance.
- The gross proceeds from the offerings are expected to be ~$2.7M and will be used for funding R&D and clinical trials and for other working capital and general corporate purposes.
- The offering is expected to close on or about July 14, 2023.
- PRFX is -33.3% to $11.30.
For further details see:
PainReform prices 301,230 shares at $9.00 in registered direct offering