RegeneRx Biopharma (RGN) Prices 11.5M Common Unit Offering at $0.41/Unit
RegeneRx Biopharmaceuticals, Inc. (AMEX: RGN) announced the pricing of its previously announced underwritten public offering of 11,500,000 units of its securities at a public offering price of $0.41 per unit. Each unit consists of one share of RegeneRx common stock and 0.40 warrants to purchase common stock. Each warrant has a term of five years and represents the right to purchase one share of common stock at an exercise price of $0.56 per share. No fractional warrants will be issued. The units will immediately separate and the common stock and warrants will be issued separately. The warrants will be quoted on the NASD Over the Counter Bulletin Board and are expected to begin trading on or about May 18, 2010. The offering is expected to close on or about May 21, 2010, subject to customary closing conditions.
Maxim Group LLC is acting as the sole book-running manager for this offering, with Boenning & Scattergood as co-manager. RegeneRx has granted the underwriters an option for a period of 45 days to purchase up to an additional 1,725,000 units to cover over-allotments, if any.
Maxim Group LLC is acting as the sole book-running manager for this offering, with Boenning & Scattergood as co-manager. RegeneRx has granted the underwriters an option for a period of 45 days to purchase up to an additional 1,725,000 units to cover over-allotments, if any.
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