By Devika Patel
Knoxville, Tenn., Jan. 22 - Curis, Inc. began a $16.25 million registered direct offering of units on Jan. 22, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling 6,449,288 units of one common share and a quarter-share warrant at $2.52 per unit. The whole warrants are each exercisable at $3.55 until Jan. 27, 2015.
RBC Capital Markets Corp. is the lead agent and Rodman & Renshaw, LLC is the co-agent.
Settlement is expected Jan. 27.
Proceeds will be used for general corporate purposes.
Based in Cambridge, Mass., Curis develops novel treatments for cancer.
| Issuer: | Curis, Inc.
|
| Issue: | Units of one common share and a quarter-share warrant
|
| Amount: | $16,252,206
|
| Units: | 6,449,288
|
| Price: | $2.52
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | Jan. 27, 2015
|
| Warrant strike price: | $3.55
|
| Agents: | RBC Capital Markets Corp. (lead), Rodman & Renshaw, LLC (co-agent)
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 27
|
| Stock symbol: | Nasdaq: CRIS
|
| Stock price: | $2.96 at close Jan. 21
|
| Market capitalization: | $161 million
|
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