Regentis Biomaterials (RGNT) has agreed to sell $6.5 million worth of shares and warrants in a private placement, the regenerative medicine company said late Wednesday.

The company will issue about 1.9 million common shares at $3.50 each, along with an equal number of warrants to buy its shares at $4.20 apiece, to institutional and accredited investors, it said. Regentis may also issue, in lieu of ordinary shares, pre-funded warrants at $3.4999 each, exercisable at a price of $0.0001 per share.

Net proceeds will be used to support clinical and regulatory activities, product development, operational support, market-entry activities, working capital and general corporate purposes, Regentis said.

Closing is expected to occur on or about June 23, subject to closing conditions.