- Trevena ( NASDAQ: TRVN ) has announced an offering of common stock and warrants priced at-the-market under Nasdaq rules.
- The biopharmaceutical company entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 2,614,380 shares of common stock and warrants to purchase up to an aggregate of 2,614,380 shares of common stock at a combined offering price of $3.06/share.
- The warrants will have an exercise price of $2.95/share, will be exercisable immediately upon issuance and will expire five years following the date of issuance.
- The offering is expected to close around November 18, 2022.
- Total gross proceeds are expected to be ~$8M. Net proceeds will be used for general corporate purposes, which may include working capital and general and administrative expenses.
For further details see:
Trevena launches $8M securities offering