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VistaGen (VTGN) closes 10 M share offering at $1.50 with 100% warrant coverage

December 11, 2017 10:34am

VTGN closed $15 M offering before deducting expenses

VistaGen Therapeutics (VTGN) announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock and warrants to purchase up to 10,000,000 shares of common stock at an offering price of $1.50 per share and related warrant. Each share of common stock is being sold together with a warrant to purchase one share of common stock.

The warrants are immediately exercisable, have an exercise price of $1.50 per share and will terminate 5 years from the date of issuance. The gross proceeds of the offering are expected to be approximately $15 million, before deducting the underwriting discount and other estimated offering expenses.

Oppenheimer & Co. Inc. is acting as sole book-running manager and Chardan is acting as lead manager for the offering.

The 31.11% drop in pricing says it all ...

35 companies, 1 interpreter!

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