May 11, 2016 6:21am
Up listing to NASDAQ Capital Market under New Ticker "VTGN" Effective May 11, 2016
VistaGen Therapeutics, Inc. (VSTA) will begin trading on The NASDAQ Capital Market under the symbol ''VTGN" on May 11, 2016.
The Company priced its public offering of 2,352,942 shares of common stock and warrants to purchase up to 2,352,942 shares of common stock, at a combined price to the public of $4.25 for aggregate gross proceeds of approximately $10 M.
The warrants will have an exercise price of $5.30, are exercisable immediately, and will have a term of five years. VistaGen has granted the underwriters a 45-day option to purchase up to 352,942 additional shares of common stock and/or warrants to purchase up to 352,942 additional shares to cover over-allotments, if any.
In connection with its new listing on The NASDAQ Capital Market, VistaGen's common stock will cease trading on the OTCQB.
The offering is expected to close on May 16, 2016, subject to customary closing conditions.
Chardan Capital Markets, LLC and WallachBeth Capital, LLC are acting as joint book running managers for the offering.
VSTA closed DOWN -$1.50 to $5.50, watch but, don’t wait for the decline to $4.25 or … lower. Gonna get ugly …