Funds used for clinical development of TNX-102 SL and working capital
By Devika Patel
Knoxville, Tenn., Aug. 9 - Tonix Pharmaceuticals Holding Corp. priced an $11.39 million public sale of units with a $1.71 million greenshoe, according to a prospectus filed Friday with the Securities and Exchange Commission. The offering was announced Thursday.
The company will sell 2.68 million units of one common share and one warrant at $4.25 per unit, with each whole five-year warrant exercisable at $4.25. The strike price is a 22.72% discount to the Aug. 8 closing share price of $5.50.
Roth Capital Partners, National Securities Corp. and Dawson James Securities, Inc. are the bookrunners.
Settlement is expected Aug. 14.
Proceeds will be used for the clinical development of TNX-102 SL, including a phase 2b clinical trial, and for general corporate purposes, including working capital and operational purposes, including pre-clinical development.
Tonix is a specialty pharmaceutical company based in Zurich.
| Issuer: | Tonix Pharmaceuticals Holding Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $11.39 million
|
| Greenshoe: | $1,708,500
|
| Units: | 2.68 million
|
| Price: | $4.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.25
|
| Bookrunners: | Roth Capital Partners, National Securities Corp. and Dawson James Securities, Inc.
|
| Announcement date: | Aug. 8
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Stock symbol: | OTCBB: TNXP
|
| Stock price: | $5.50 at close Aug. 8
|
| Market capitalization: | $8.13 million
|
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