Published on 11/16/2015 in the Prospect News PIPE Daily.
Neurotrope plans $15.33 million private placement of preferred units
Deal sells units of one one-hundredth of a preferred and five warrants
By Devika Patel
Knoxville, Tenn., Nov. 16 – Neurotrope, Inc. said it will conduct a $15.33 million private placement of units.
The company will sell 25,549,868 units of one one-hundredth of a series B convertible preferred share and five warrants at $0.60 per unit.
Each preferred converts to four common shares.
The warrants are exercisable for a total of 127,749,340 shares, with the series A warrant exercisable at $0.80 for five years, the series B warrant exercisable at $0.80 for one years, the series C warrant exercisable at $1.25 for five years, the series D warrant exercisable at $1.00 for five years and the series E warrant exercisable at $1.50 for five years. The strike prices are identical, 56.25%, 25% and 87.5% premiums to the Nov. 13 closing share price of $0.80.
Proceeds will be used for the company’s phase 2b clinical trial in 150 moderately severe to severe Alzheimer's disease patients and as working capital.
Based in Plantation, Fla., Neurotrope is collaborating with the Blanchette Rockefeller Neuroscience Institute to develop diagnostic and therapeutic technologies for the treatment of Alzheimer's Disease.
| Issuer: | Neurotrope, Inc.
|
| Issue: | Units of one one-hundredth of a series B convertible preferred share and five warrants
|
| Amount: | $15,329,921
|
| Units: | 25,549,868
|
| Price: | $0.60
|
| Conversion ratio: | Into four common shares (per preferred)
|
| Warrants: | Five warrants per unit, for a total of 127,749,340 shares
|
| Warrant expiration: | Five years (series, A, C, D and E), one year (series B)
|
| Warrant strike price: | $0.80 (series A, B), $1.25 (series C), $1.00 (series D), $1.50 (series E)
|
| Pricing date: | Nov. 16
|
| Stock symbol: | OTCBB: NTRP
|
| Stock price: | $0.80 at close Nov. 13
|
| Market capitalization: | $18.83 million
|
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