Lead agents Fordham Financial, Summer Street Research assist with deal
By Devika Patel
Knoxville, Tenn., Dec. 21 - Ampio Pharmaceuticals, Inc. said it priced a $9.44 million registered direct offering of stock. Plans for the deal were announced Tuesday.
The company will sell 2,220,255 common shares at $4.25 per share on a reasonable, best-efforts basis. The price per share reflects a 19.96% discount to the Dec. 20 closing share price of $5.31.
Fordham Financial Management, Inc. and Summer Street Research Partners are the lead agents; Emerging Growth Equities, Ltd. is co-placement agent.
Settlement is expected Dec. 27.
Proceeds will be used for general corporate purposes and working capital, including Ampion and Optina clinical trials and seeking regulatory approval for Zertane. Proceeds may also be used to acquire or invest in complementary businesses, products and technologies.
The Greenwood Village, Colo., company develops proprietary drugs for metabolic diseases, eye diseases, kidney diseases, inflammation and central nervous system diseases.
| Issuer: | Ampio Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $9,436,084
|
| Shares: | 2,220,255
|
| Price: | $4.25
|
| Warrants: | No
|
| Agents: | Fordham Financial Management, Inc., Summer Street Research Partners (leads) and Emerging Growth Equities, Ltd.
|
| Announcement date: | Dec. 20
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Stock symbol: | Nasdaq: AMPE
|
| Stock price: | $5.31 at close Dec. 20
|
| Market capitalization: | $124.69 million
|
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