Investors also receive warrant coverage; H.C. Wainwright is the agent
By Devika Patel
Knoxville, Tenn., Aug. 11 – TapImmune Inc. said it will raise $2 million in a registered direct placement of stock. H.C. Wainwright & Co., LLC is the agent.
The company will sell common shares at $1.06 per share. The per-share purchase price is a 31.61% discount to $1.55, the closing price of the stock on Aug. 8.
Investors will also receive warrants for 1,886,793 shares. Each warrant is exercisable at $1.17 for five years. The strike price is a 24.52% discount to the Aug. 8 closing price.
Settlement is expected Aug. 14.
TapImmune is a Seattle-based biotechnology company engaged in the discovery and development of immunotherapeutics for the treatment of cancer, infectious diseases, autoimmune disorders and transplant tissue rejection.
| Issuer: | TapImmune Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Price: | $1.06
|
| Warrants: | For 1,886,793 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.17
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 14
|
| Stock symbol: | OTCBB: TPIV
|
| Stock price: | $1.55 at close Aug. 8
|
| Market capitalization: | $24.2 million
|
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