Deals

Tonix Pharmaceuticals Raises Capital in Unit Offering

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Central nervous system treatment developer Tonix Pharmaceuticals Holding Corp. (TNXP) announced that it has raised $1.62 million in a Unit (Common Stock and Warrants) transaction. The common stock was sold at $0.40 per share, an approximate 33% discount to the market price ($0.60) of TNXP at deal announcement. A series of 4,037,500 60-Month Warrants with an exercise price of $0.60 per share (0% premium) were issued to the investors in this transaction. An additional series of 4,037,500 12-Month Warrants with an exercise price of $0.40 per share (33.33% discount) were issued to the investors in this transaction.

Deals

CEL-SCI Corp. Raises Capital in RDO

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CEL-SCI Corp. (CVM) announced that it has raised $10.5 million in a Registered Direct transaction. The common stock was sold at $0.30 per share, an approximate 14% discount to the market price ($0.35) of CVM at deal announcement. A series of 26,250,000 48-Month Warrants with an exercise price of $0.40 per share (14.29% premium) was issued to the investors in this transaction. Chardan Capital Markets acted as the exclusive agent on the transaction.

Deals

SANUWAVE Health Sells Shares at 39% Premium

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SANUWAVE Health (SNWV) announced that it has raised $1 million in a multi-tranche Common Stock transaction. The common stock was sold at $0.25 per share, an approximate 39% premium to the market price ($0.18) of SNWV at deal announcement. Issuer counsel was Smith, Gambrell, & Russel. This Placement will fund in tranches. The first tranche of $50,000 will fund by Jan.

Markets

Reverse Merger Bridges Israel, U.S. Biomed Companies

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A typical reverse merger involves an operational private company and a public shell with no ongoing business, but a deal involving Tarrytown, N.Y.-based EpiCept Corp. (EPCT) and Israel's privately held Immune Pharmaceuticals Ltd. will combine two viable biotech companies -- and their pipelines. The pair will combine in a share exchange transaction that will leave Immune Pharma's shareholders with 77.5% of the outstanding shares in newly formed Immune Pharmaceuticals Inc. The company will focus on treatments for inflammatory diseases and cancer. The EpiCept deal is also unusual as a reverse merger in that the newly formed company will meld the management of both, while most reverse mergers culminate with the resignation of shell management. Immune Pharma's CEO and founder Daniel Teper will replace EpiCept's interim CEO, Robert Cook, who will become the new CFO.