ContraFect to price its IPO of 3,636,364 units between $5.00 and $6.00

Deal will sell units of common shares, warrants via bookrunner Maxim

By Devika Patel

Knoxville, Tenn., July 1 – ContraFect Corp. will sell 3,636,364 units in its initial public offering with a 45-day greenshoe of 545,454 additional units, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The deal was announced April 21.

The company will sell the units of one common share and two warrants at a price expected to fall between $5.00 and $6.00 per unit. The first warrant is exercisable at $4.80 until January 2017 and the second warrant is exercisable at $4.00 until October 2015.

Maxim Group LLC is the bookrunning manager.

Proceeds will be used for pre-clinical and early stage clinical development, research and development, working capital and other general corporate purposes.

The biotechnology company is based in Yonkers, N.Y. It expects its shares will trade on the Nasdaq exchange under the symbol “CFRX.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.