Delcath Systems (DCTH) Prices 2.2M Share Common Offering at $10/Sh and Uplisting to Nasdaq Capital Market

May 1, 2020 10:20 AM EDT
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Price: $9.10 +0.22%

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Delcath Systems, Inc. (NASDAQ: DCTH) today announced the pricing of a $22 million underwritten public offering of 2.2 million shares of common stock (or common stock equivalents) and Series F warrants to purchase up to 2.2 million shares of common stock. Each share of common stock (or common stock equivalent) is being sold with one Series F warrant to purchase one share of common stock at a combined public offering price of $10.00 per share and related Series F warrant. The Series F warrants will be immediately exercisable at a price of $10.00 per share and will expire on the fifth anniversary of their issuance date. The offering is expected to close on May 5, 2020, subject to the satisfaction of customary closing conditions.

Delcath also announced that, in connection with the offering, its common stock has been approved for listing on the Nasdaq Capital Market and will begin trading on the Nasdaq Capital Market under the symbol “DCTH” on May 1, 2020.

Delcath intends to use the net proceeds of the offering for working capital and general corporate purposes, including the continued development of Melphalan/HDS.

Roth Capital Partners acted as sole book-running manager for the offering. Aegis Capital Corp. and Laidlaw & Company (UK) Ltd. acted as co-lead managers for the offering.

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