Aegis helps in funding clinical development of Tcelna, phase 2b study
By Devika Patel
Knoxville, Tenn., Sept. 4 - Opexa Therapeutics, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $2.7 million greenshoe in part, lifting total proceeds to $18.75 million. The sale was announced June 17 and priced for $18 million with the greenshoe on Aug. 8.
The company sold 12.65 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. Of the shares, 650,000 were part of the partially exercised greenshoe.
Aegis Capital Corp. was the bookrunning manager.
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: | $18,975,000 (including $975,000 greenshoe)
|
| Shares: | 12.65 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | June 17
|
| Pricing date: | Aug. 8
|
| Settlement date: | Sept. 4
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $2.92 at close Aug. 7
|
| Market capitalization: | $28.66 million
|
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