By Devika Patel
Knoxville, Tenn., June 10 - MDRNA, Inc. said it has arranged a $10.5 million registered direct offering of stock with agent Canaccord Adams Inc.
The company will sell 5.25 million common shares at $2.00 apiece.
Investors will also receive warrants for 5.25 million shares, which are exercisable at $2.38 for 5½ years.
Settlement is expected on June 12.
Proceeds will be used for working capital.
Based in Bothell, Wash., MDRNA is a biotechnology company focused on the discovery, development and commercialization of pharmaceuticals based on RNA interference.
| Issuer: | MDRNA, Inc.
|
| Issue: | Common stock
|
| Amount: | $10.5 million
|
| Shares: | 5.25 million
|
| Price: | $2.00
|
| Warrants: | For 5.25 million shares
|
| Warrant expiration: | Five and a half years
|
| Warrant strike price: | $2.38
|
| Agent: | Canaccord Adams Inc.
|
| Pricing date: | June 10
|
| Settlement date: | June 12
|
| Stock symbol: | Nasdaq: MRNA
|
| Stock price: | $2.70 at close June 9
|
| Market capitalization: | $73.5 million
|
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