2023-03-30 13:33:41 ET
- RenovoRx ( NASDAQ: RNXT ) entered into a definitive securities purchase agreement with a certain institutional investor for the purchase and sale of 1.56M shares at a purchase price of $3.21/share in a registered direct offering.
- Offering is expected to close on or about Apr.3, 2023.
- In a concurrent private placement, the company will issue to the investors warrants to purchase up to 1.95M shares; warrants have an exercise price of $3.21/share, will be exercisable immediately and will have a term of five and one-half years.
- Gross proceeds expected to be ~$5M; net proceeds to be used for working capital and other general corporate purposes.
For further details see:
RenovoRx to raise $5M in stock offering