By Devika Patel
Knoxville, Tenn., Jan. 22 - Access Pharmaceuticals, Inc. said it arranged a $6.3 million registered direct offering of stock.
The company will sell 2.1 million common shares at $3.00 apiece, along with warrants for 1.05 million shares.
The warrants are exercisable at $3.00 for five years.
Rodman & Renshaw, LLC is the lead agent. EarlyBirdCapital, Inc. is the sub agent.
Dallas-based Access Pharmaceuticals is a biopharmaceutical company focused on treatment and care for cancer patients.
| Issuer: | Access Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $6.3 million
|
| Shares: | 2.1 million
|
| Price: | $3.00
|
| Warrants: | For 1.05 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.00
|
| Agents: | Rodman & Renshaw, LLC (lead), EarlyBirdCapital, Inc. (sub agent)
|
| Pricing date: | Jan. 22
|
| Stock symbol: | OTCBB: ACCP
|
| Stock price: | $2.95 at close Jan. 21
|
| Market capitalization: | $37.1 million
|
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