Company sells units with half-share warrants through Dawson James
By Devika Patel
Knoxville, Tenn., Feb. 7 - Opexa Therapeutics, Inc. priced a $3.25 million offering of units on Feb. 7, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 1,083,334 units of one common share and one half-share warrant at $3.00 per unit on a best-efforts basis, with each whole warrant exercisable at $3.00 for four years. The strike price is a 2.04% premium to the Feb. 6 closing share price of $2.94.
Dawson James Securities, Inc. is the agent.
Settlement is expected Feb. 11.
Proceeds will be used for working capital and general corporate purposes, including the continued conduct of the Abili-T clinical study, Opexa's ongoing phase 2b clinical trial of Tcelna in secondary progressive multiple sclerosis patients.
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: | Units of one common share and one half-share warrant
|
| Amount: | $3,250,002
|
| Units: | 1,083,334
|
| Price: | $3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $3.00
|
| Agent: | Dawson James Securities, Inc.
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 11
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $2.94 at close Feb. 6
|
| Market capitalization: | $15.56 million
|
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