Lots of sweeteners in this offering:
Hemispherx Biopharma Announces $18.3 Million Public Equity Offerings
PHILADELPHIA, May 11, 2009 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (AMEX:HEB) announced today that it has agreed to sell up to $18.3 million in common stock and warrants in a registered offering to two institutional investors. The investors will purchase today, for $15 million cash, common shares of its stock at $1.10 per share.
Investors will also receive ies A warrants to purchase 6,136,364 shares of Hemispherx Biopharma, Inc.'s common stock. The Series I warrants have an exercise price of $1.65 per share ad are exercisable at any time after the six-month anniversary of the closing of the transaction and before the fifth anniversary of such initial exercise date. The investors also received 3,000,000 Series II warrants that are exercisable at $1.10 and have a 45 day term. The closing of the offering is expected to take place on or about May 16, 2009, subject to the satisfaction of customary closing conditions, including the approval of an application for the listing of additional shares by the NYSE Amex exchange. Hemispherx Biopharma, Inc. plans to use the net proceeds from the offering to fund commercialization of Alferon N and for other research and development and general corporate purposes.
|
