Company is selling 5 million shares with whole, five-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 29 – Ampio Pharmaceuticals, Inc. said it negotiated a $3.75 million registered direct offering of units. Financial West Group is the agent.
The company will sell 5 million units of one common share and one warrant at $0.75 per unit.
Each warrant is exercisable at $1.00 for five years. The strike price is a 9.89% premium to $0.91, the Aug. 26 closing share price.
Settlement is expected Sept. 1.
Proceeds will be used for general corporate purposes and advancing the biologics license application for Ampion and its future clinical trials.
The Greenwood Village, Colo., company develops proprietary drugs for metabolic disease, eye disease, kidney disease, inflammation and CNS disease.
| Issuer: | Ampio Pharmaceuticals, Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | $3.75 million
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| Units: | 5 million
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| Price: | $0.75
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.00
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| Agent: | Financial West Group
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 1
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| Stock symbol: | NYSE: AMPE
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| Stock price: | $0.91 at close Aug. 26
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| Market capitalization: | $43.16 million
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