Biotechnology Value Fund and affiliates of BVF Partners are investors
By Devika Patel
Knoxville, Tenn., Nov. 10 – GTx Inc. said it plans a $43.41 million private placement of stock.
The company will sell 64,311,112 units of one common share and one warrant at $0.675 per unit.
The warrants are each exercisable at $0.85 for four years. The strike price represents a 49.12% premium to the Nov. 7 closing share price of $0.57.
Biotechnology Value Fund, LP and other affiliates of BVF Partners LP are among the investors, along with certain existing stockholders and members of the company’s management and board of directors.
The biopharmaceutical company is based in Memphis.
| Issuer: | GTx Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $43,410,001
|
| Units: | 64,311,112
|
| Price: | $0.675
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.85
|
| Investor: | Biotechnology Value Fund, LP, affiliates of BVF Partners LP
|
| Pricing date: | Nov. 10
|
| Stock symbol: | Nasdaq: GTXI
|
| Stock price: | $0.57 at close Nov. 7
|
| Market capitalization: | $41.81 million
|
|
|
© 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.
