Can-Fite BioPharma (CANF) priced a public offering to a single institutional investor of 8.33 million American depositary shares and accompanying warrants to purchase up to 16.67 million ADS at a combined price of $0.60 apiece for total proceeds of up to $15 million.
The warrants are exercisable immediately upon issuance at $0.60 per ADS, expiring after two years, the company said Monday in a statement.
Can-Fite expects to close the offering around Tuesday and said proceeds will be used for funding research, clinical trials and general corporate purposes
Price: 0.70, Change: -0.28, Percent Change: -28.57
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments