Apricus Biosciences (APRI) Enters $4.6M Common Stock Registered Direct Offering
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Apricus Biosciences, Inc. (Nasdaq: APRI) announced that it has entered into a definitive agreement with institutional investors for an offering of shares of common stock with gross proceeds of approximately $4.6 million in a registered direct offering. The closing of the offering is expected to take place on or about September 27, 2016, subject to the satisfaction of customary closing conditions.
In connection with the offering, the Company will issue approximately 13.1 million registered shares of common stock at a purchase price of $0.35 per share. Concurrently in a private placement, for each share of common stock purchased by an investor, such investor will receive from the Company an unregistered warrant to purchase 0.75 shares of common stock. The warrants have an exercise price of $0.45 per share, will be exercisable six (6) months following the closing date and will expire 5 years from the initial exercise date.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, acted as the exclusive placement agent in connection with this offering.
The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Medigus (MDGS) Prices 1.14M Registered Direct Offering at $0.67/ADS
- CEL-SCI Corp (CVM) Plans Common Stock, Warrants Offering
- Apricus Biosciences to Present at the 9th Annual LD Micro Main Event
Create E-mail Alert Related CategoriesEquity Offerings
Related EntitiesRodman & Renshaw, H.C. Wainwright
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!