DanDrit Biotech to price $12 million initial public sale of its stock

Deal funds clinical trial, working capital, general corporate purposes

By Devika Patel

Knoxville, Tenn., Feb. 14 - DanDrit Biotech USA, Inc. plans to price a $12 million initial public offering of common stock with a 45-day greenshoe of 360,000 additional shares, according to a Form S-1 filed Friday with the Securities and Exchange Commission.

Sunrise Securities Corp. is the agent.

Proceeds will be used for a phase 2b/3 clinical trial, working capital and general corporate purposes.

The biotechnology company is based in Copenhagen.

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