Hemispherx Biopharma arranges equity distribution agreement with Maxim

By Devika Patel

Knoxville, Tenn., May 28 - Hemispherx Biopharma, Inc. negotiated an equity distribution agreement with agent Maxim Group LLC on May 28, according to an 8-K filed Friday with the Securities and Exchange Commission.

Maxim has agreed to create an at-the-market equity program under which it may sell up to 32 million common shares for the company. The agent will receive a fixed commission rate of 4% of the gross sales price per share sold, for up to $10 million, and, thereafter, at a fixed commission rate of 3% of the gross sales price per share sold.

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

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