Moleculin Biotechnology Prices are 16.08m shares at 37C publicly offered
Molecular biotechnology (MBRX) announced the pricing of the public offering consisting of 16,080,000 shares of common stock and a Series E warrant, and announced that it will purchase up to 48,240,000 shares of common stock at the total public offering price of common stock and the total public offering price of 37C Series E warrants. The exercise price of the Series e Warrant is 37°C per share, and can be exercised upon shareholder approval and expires five years from the first exercise date. The offering is scheduled to close around June 23rd, subject to customary closure conditions. Total revenue is expected to be around $5.9 million before providing fees and fees for the deployment agent. The company will use net revenue from offerings to advance its anamycin and two other drug portfolios through clinical development, moving the remainder of its existing portfolio into preclinical research and its equivalent sponsored research, and working capital. Roth Capital Partners acts as an exclusive deployment agent for the service. Maxim Group serves as the company’s financial advisor.
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