Soligenix Announces $7.5 Million Public Offering of Common Stock and Warrants to Fund R&D and Corporate Activities
Reuters
Sep 26
Soligenix Announces $7.5 Million Public Offering of Common Stock and Warrants to Fund R&D and Corporate Activities
Soligenix Inc. (Nasdaq: SNGX), a late-stage biopharmaceutical company developing treatments for rare diseases, has announced the pricing of a $7.5 million public offering. The company is selling 5,555,560 shares of common stock (or equivalents) together with warrants to purchase up to 5,555,560 shares at a combined price of $1.35 per share and warrant. The warrants are immediately exercisable at $1.35 per share and will expire five years from the issuance date. In addition, certain existing warrants will be amended to reflect the new exercise price and expiration date. A.G.P./Alliance Global Partners is acting as the sole placement agent. Soligenix intends to use the net proceeds to support research and development, commercialization activities, working capital, and general corporate purposes.
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