New Issue: Hemispherx Biopharma negotiates $16 million registered offering of stock, warrants

By Devika Patel

Knoxville, Tenn., May 19 - Hemispherx Biopharma, Inc. said it plans a registered direct offering of shares for up to $16 million.

The company will sell 11,906,976 common shares at $1.34375 each. Investors will also receive warrants for 4,167,440 shares, which are exercisable at $1.31 for five years.

Rodman & Renshaw, LLC is the agent.

Proceeds will be used to fund commercialization of Alferon N and for other research and development and general corporate purposes.

Philadelphia-based Hemispherx develops drugs to treat debilitating disorders, like viral diseases and immune-system disorders.

Issuer:	Hemispherx Biopharma, Inc.
Issue:	Common shares
Amount:	$16 million
Shares:	11,906,976
Price:	$1.34375
Warrants:	For 4,167,440 shares
Warrant expiration:	Five years
Warrant strike price:	$1.31
Agent:	Rodman & Renshaw, LLC
Pricing date:	May 19
Stock symbol:	Amex: HEB
Stock price:	$1.93 at close May 18
Market capitalization:	$121 million

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