Chardan is lead placement agent, Brean Capital is co-placement agent
By Devika Patel
Knoxville, Tenn., April 8 - Ohr Pharmaceutical, Inc. arranged an $18 million registered direct offering of shares on April 8, according to a prospectus supplement and 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 1.8 million common shares at $10.00 per share. The price per share is a 16.88% discount to the April 7 closing share price of $12.03.
Chardan Capital Markets, LLC is the lead placement agent and Brean Capital, LLC is the co-placement agent.
Settlement is expected April 11.
Proceeds will be used for general corporate purposes, including clinical trials, research and development, general and administrative expenses, manufacturing and acquisitions.
Ohr is a biotechnology company based in New York.
| Issuer: | Ohr Pharmaceutical, Inc.
|
| Issue: | Common shares
|
| Amount: | $18 million
|
| Shares: | 1.8 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Agents: | Chardan Capital Markets, LLC (lead), Brean Capital, LLC (co-placement agent)
|
| Pricing date: | April 8
|
| Settlement date: | April 11
|
| Stock symbol: | Nasdaq: OHRP
|
| Stock price: | $12.03 at close April 7
|
| Market capitalization: | $206.09 million
|
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