UPDATE: Ampio Pharma (AMPE) Prices 5M Common Stock and Warrant Direct Offering at $0.75/Share

August 29, 2016 11:09 AM EDT
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(Updated - August 29, 2016 11:10 AM EDT)

(Update corrects headline)

Ampio Pharmaceuticals, Inc. (NYSE: AMPE) today announced that it has entered into a securities purchase agreement with an institutional investor providing for the registered sale of 5,000,000 shares of common stock and accompanying warrants to purchase up to 5,000,000 shares of common stock with an exercise price of $1.00 per share, at a combined purchase price of $0.75 per share and accompanying warrant. The gross proceeds to the Company will approximate $3,750,000.

The warrants are immediately exercisable and have a term of five years from the date of issuance. The closing of the sale of securities is expected to take place on or about September 1, 2016, subject to certain customary closing conditions.

The Company intends to use the net proceeds from this offering for general corporate purposes as well as advancing the BLA for Ampion™ and its future clinical trials.

Financial West Group is acting as the exclusive placement agent for the offering.

The sale of the common stock and warrants are being offered by the Company pursuant to a shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (the "SEC") on January 22, 2014. A final prospectus supplement will be filed with the SEC and will form a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained, when available, by contacting Financial West Group, at 4510 E. Thousand Oaks Blvd, Westlake Village, CA 91362, by telephone at (805) 497-9222, or by email at information@fwg.com.

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