Radient Pharmaceuticals (RPC) Announces Direct Offering for $1 Million
Radient Pharmaceuticals Corporation (NYSE Amex: RPC) has entered into definitive agreements to sell an aggregate of 3,289,472 shares of its common stock at a price per share of $0.28 pursuant to a registered direct offering to institutional investors, resulting in gross proceeds of approximately $1 million.
Investors will receive warrants to purchase up to 1,644,736 shares of Radient Pharmaceutical Corporation common stock. The warrants have an initial exercise price of $1.25 per share and are exercisable at any time on or after 6 months and prior to the six and one-half year anniversary of the initial issuance date.
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