By Devika Patel
Knoxville, Tenn., Dec. 10 - Opexa Therapeutics, Inc. orchestrated a $5.1 million registered direct offering of stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 2.55 million common shares at $2.00 apiece along with 1,275,000 warrants. The warrants are exercisable at $2.55 for one year.
Rodman & Renshaw, LLC is the agent.
Settlement is expected Dec. 14.
Proceeds will be used for general corporate purposes, including activities related to further clinical development of Tovaxin, and for other working capital and operational purposes.
The Woodlands, Texas-based Opexa develops and commercializes cell therapies to treat autoimmune diseases such as multiple sclerosis, rheumatoid arthritis and diabetes.
| Issuer: | Opexa Therapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $5.1 million
|
| Shares: | 2.55 million
|
| Price: | $2.00
|
| Warrants: | 1,275,000 warrants
|
| Warrant expiration: | One year
|
| Warrant strike price: | $2.55
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $2.31 at close Dec. 9
|
| Market capitalization: | $25.2 million
|
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