Axonyx Inc (AXYX) Message Board

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Biotech / Medical : Axonyx Inc (AXYX)

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To: VIXandMore who wrote (4)	1/8/2004 11:29:42 AM
From: VIXandMore	Read Replies (1) of 22

Axonyx Announces $50 Million Private Placement of Common Stock and Warrants NEW YORK--(BUSINESS WIRE)--Jan. 8, 2004--Axonyx Inc. (NASDAQ:AXYX - News) announced today that the Company has entered into definitive agreements with new and existing institutional investors relating to a private placement of $50 million of securities through the sale of 9,650,183 shares of common stock at $5.15 per share. These agreements also involve the acquisition by the investor group of five-year warrants to purchase an additional 2,412,546 shares of the Company's stock at an exercise price of $7.25 per share. The Company will file a registration statement with the SEC for the resale of common stock within 30 days. Rodman & Renshaw Inc. was the lead placement agent for this transaction. Punk Ziegel & Co. acted as the financial advisor and a placement agent to Axonyx. Axonyx plans to use the net proceeds of this financing transaction to support and expand the Company's research and development activities.

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