Marshall Edwards (MSHL) Announces Plans to Offer $8 Million in Common Stock to Shareholders
Tweet
Share
E-mail
Marshall Edwards, Inc. (Nasdaq: MSHL) announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a rights offering to existing stockholders to purchase up to $8 million of its common stock. The Company will announce further details regarding the rights offering, including the record date, exercise price, date of distribution of the rights and expiration date of the offering promptly once determined.
Pursuant to the rights offering, Marshall Edwards will distribute subscription rights pro rata to holders of record of the Company's stock as of the close of business on the record date to be established for the offering. In addition, stockholders will be entitled to subscribe for additional rights that remain unsubscribed as a result of any unexercised rights.
The Company's majority shareholder, Novogen Limited, has indicated that, subject to its shareholders' approval, it intends to exercise rights for up to $4 million of common stock in the offering and distribute a portion of its rights to its shareholders.
Marshall Edwards intends to use the net proceeds from the offering primarily to continue the clinical development of its two lead oncology drug candidates, ME-143 and ME-344.
Pursuant to the rights offering, Marshall Edwards will distribute subscription rights pro rata to holders of record of the Company's stock as of the close of business on the record date to be established for the offering. In addition, stockholders will be entitled to subscribe for additional rights that remain unsubscribed as a result of any unexercised rights.
The Company's majority shareholder, Novogen Limited, has indicated that, subject to its shareholders' approval, it intends to exercise rights for up to $4 million of common stock in the offering and distribute a portion of its rights to its shareholders.
Marshall Edwards intends to use the net proceeds from the offering primarily to continue the clinical development of its two lead oncology drug candidates, ME-143 and ME-344.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Singularity Future Technology closes $5M registered direct offering
- Aveanna Healthcare prices secondary offering at $11.75 per share
- AMC Robotics raises up to $2.1M via warrant inducement deal
Create E-mail Alert Related Categories
Equity OfferingsRelated Entities
S1Sign 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!
