By Devika Patel
Knoxville, Tenn., March 3 - Allon Therapeutics Inc. said it negotiated a C$10 million three-year standby equity distribution agreement with YA Global Master SPV Ltd.
The company will sell stock at a 5% discount to the five-day weighted average of Allon shares at the time of drawdown.
Vancouver, B.C.-based Allon develops drugs that protect against neurodegenerative diseases, such as Alzheimer's disease, stroke, traumatic brain injury, multiple sclerosis and neuropathy.
| Issuer: | Allon Therapeutics Inc.
|
| Issue: | Standby equity distribution agreement
|
| Amount: | C$10 million
|
| Tenor: | Three years
|
| Price: | 5% discount to the five-day weighted average
|
| Warrants: | No
|
| Investor: | YA Global Master SPV Ltd.
|
| Pricing date: | March 3
|
| Stock symbol: | Toronto: NPC
|
| Stock price: | C$0.335 at close March 2
|
| Market capitalization: | $28.9 million
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