By Sheri Kasprzak
New York, March 23 - CombinatoRx, Inc. said it is gearing up to settle a $47.97 million PIPE with a group of institutional and accredited investors.
The investors agreed to buy 4.68 million shares at $10.25 each by March 24.
The price per share is a 7.6% discount to the company's closing stock price of $11.10 on March 22.
Boston-based CombinatoRx develops treatments for cancer, immuno-inflammatory disease, metabolic disease and neurodegenerative disease.
| Issuer: | CombinatoRx, Inc.
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| Issue: | Stock
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| Amount: | $47.97 million
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| Shares: | 4.68 million
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| Price: | $10.25
|
| Warrants: | No
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| Announcement date: | March 23
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| Settlement date: | March 24
|
| Stock symbol: | Nasdaq: CRXX
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| Stock price: | $11.10 at close March 22
|
| Stock price: | $10.50 at close March 23
|
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