DanDrit plans to price $12 million IPO of 2.4 million shares at $5.00

Deal funds clinical trial, working capital, general corporate purposes

By Devika Patel

Knoxville, Tenn., May 16 - DanDrit Biotech USA, Inc. will price its $12 million initial public offering of 2.4 million common shares at an expected price of $5.00 per share, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The deal was announced Feb. 14.

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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