Nastech Pharmaceutical (NSTK) Sells 4.58M Shares at $1.73
Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK) entered into definitive agreements with new and existing investors to raise gross proceeds of $7,932,500 though a registered direct offering. Under terms of the agreement, the Company will sell 4,585,260 shares of its common stock at $1.73 per share.
Investors also will receive warrants, with a 7-year term, to purchase 4,585,260 shares of common stock at an exercise price of $2.38 per share. The warrants will be exercisable beginning October 25, 2008.
In addition, the investors have the right to purchase up to 1,375,578 shares of common stock at a price of $2.17 per share during the 90-day period beginning October 25, 2008.
Shares of NSTK closed at $2.18 yesterday. [LJ]
Create E-mail AlertRelated Categories
Equity OfferingsStocks Mentioned
+0.00Sign 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!
