By Laura Lutz
Des Moines, Nov. 6 - GTx, Inc. arranged a $30 million private placement of stock, according to an 8-K filing with the Securities and Exchange Commission.
Merck & Co., Inc. agreed to buy 1,285,347 shares at $23.34 apiece.
Settlement of the placement depends on a collaboration agreement between GTx and Merck becoming effective. The effectiveness of the collaboration agreement also depends on settlement of the placement.
GTx is a biopharmaceutical company based in Memphis.
| Issuer: | GTx, Inc.
|
| Issue: | Stock
|
| Amount: | $30 million
|
| Shares: | 1,285,347
|
| Price: | $23.34
|
| Warrants: | No
|
| Investor: | Merck & Co., Inc.
|
| Pricing date: | Nov. 5
|
| Stock symbol: | Nasdaq: GTXI
|
| Stock price: | $14.44 at close Nov. 5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
