Aegis helps in funding clinical development of Tcelna, phase 2b study
By Devika Patel
Knoxville, Tenn., Aug. 8 - Opexa Therapeutics, Inc. said it priced an $18 million public offering of stock with a $2.7 million greenshoe. The deal was announced June 17.
The company will sell 12 million common shares at $1.50 per share. The price per share is a 48.63% discount to the Aug. 7 closing share price of $2.92.
Aegis Capital Corp. is the bookrunning manager.
Settlement is expected Aug. 13.
Proceeds will be used for clinical development of Tcelna and the phase 2b study in patients with secondary progressive multiple sclerosis, operations and general corporate purposes, including debt repayment.
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 stock
|
| Amount: | $18 million
|
| Greenshoe: | $2.7 million
|
| Shares: | 12 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | June 17
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 13
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $2.92 at close Aug. 7
|
| Market capitalization: | $11.77 million
|
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