Provectus Biopharma (PVCT) Prices $6M Conv. Preferred Stock Offering
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Provectus Biopharmaceuticals, Inc. (NYSE: PVCT,) announced the pricing of a "best efforts" public offering of 240,000 shares of Series B Convertible Preferred Stock (which are initially convertible into an aggregate of 24,000,000 shares of common stock) and warrants initially exercisable to purchase an aggregate of 24,000,000 shares of common stock with a public offering price of $25.00 for a combination of one share of Series B Convertible Preferred Stock and a warrant to purchase one share of common stock. The warrants have an exercise price of $0.275 per share, are exercisable immediately, and will expire on August 30, 2021. The Company expects to receive gross proceeds of approximately $6 million, before deducting placement agent fees and commissions and other estimated offering expenses.
The offering is expected to close on or about August 30, 2016, subject to customary closing conditions.
Maxim Group LLC is acting as placement agent for the offering.
Provectus intends to use the net proceeds of the offering for clinical development, working capital and general corporate purposes.
The securities are being offered under the Company's effective shelf registration statement on Form S-3 (No. 333-205704), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (SEC). The securities are being offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective registration statement. A prospectus supplement related to the offering will be filed with the SEC and will be available, on the website of the SEC at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement also may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3500. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus in that registration statement and other documents Provectus has filed or will file with the SEC for more complete information about Provectus and the offering.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Aeterna Zentaris (AEZS) Announces $7.56M Common Stock, Warrants Registered Direct Offering
- Collegium Pharma (COLL) Prices 5M Share Stock Offering for Proceeds of $80M
- AK Steel (AKS) Prices 65M Share Common Stock Offering for Proceeds of ~$318.5M
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesMaxim Group, S3
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!