Date: 2015-05-28
Type of information: Private placement
Company: RXi Pharmaceuticals (USA - MA)
Investors:
Amount: $10.4 million
Funding type: private placement
Planned used: RXi Pharmaceuticals intends to use the net proceeds from this offering for general corporate purposes, which include, but are not limited to, funding its ongoing and future clinical trials and for general and administrative expenses. The Company may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies or to fund the development of any such complementary businesses, products or technologies that it may acquire in a stock-based acquisition. The Company has no current plans for any such acquisitions.
Others: * On May 28, 2015, RXi Pharmaceuticals, a biotechnology company focused on discovering and developing innovative therapeutics, primarily in the areas of dermatology and ophthalmology, announced the pricing of a public offering of 26 million units at a price to the public of $0.40 per share for gross proceeds of approximately $10.4 million. Each unit consists of (i) one share of common stock, (ii) a 13-month overallotment purchase right to purchase 0.50 of a share of common stock at a price of $0.455 per share and (iii) a five-year warrant to purchase 0.50 of a share of common stock at a price of $0.52 per share. The shares of common stock, overallotment purchase rights and warrants are immediately separable and will be issued separately. Net proceeds, after estimated placement agent fees and other estimated offering expenses, and assuming the overallotment purchase rights and warrants are not exercised, will be approximately $9.3 million. The offering is expected to close on or about June 2, 2015, subject to satisfaction of customary closing conditions. * On May 27, 2015, RXi Pharmaceuticals announced that it has commenced a public offering of shares of its common stock, warrants to purchase shares of its common stock and overallotment purchase rights to purchase shares of its common stock. The shares of common stock, warrants and overallotment purchase rights are immediately separable and will be issued separately. All of the shares in the offering are to be sold by RXi Pharmaceuticals. H.C. Wainwright & Co., LLC will act as exclusive placement agent on a best efforts basis for the offering.
Therapeutic area: Dermatological diseases - Ophtalmological diseases
