Growth Capitalist (https://growthcapitalist.com/tag/biomed/page/23/)
CytRx Corp. (CYTR) announced that it has raised $20 million in a CMPO/Overnight transaction. The common stock was sold at $2.50 per share, an approximate 20% discount to the market price ($3.11) of CYTR at deal announcement. Aegis Capital acted as the exclusive agent on the transaction. Placement Agent counsel was Reed Smith, and issuer counsel was TroyGould.
ImmunoCellular Therapeutics Ltd. (IMUC) announced that it has raised $21 million in a CMPO/Overnight transaction. The common stock was sold at $2.10 per share, an approximate 13% discount to the market price ($2.41) of IMUC at deal announcement. A series of 4,500,000 60-Month Warrants with an exercise price of $2.65 per share (9.96% premium) was issued to the investors in this transaction. Lazard acted as lead placement agent, and Roth Capital Partners, Maxim Group, and Summer Street Research Partners acted as co-agents on the transaction. Placement Agent counsel was Proskauer Rose, and issuer counsel was Cooley.
MannKind Corp. (MNKD) announced that it has raised $80 million in a CMPO/Overnight transaction. The common stock was sold at $2.00 per share, an approximate 23% discount to the market price ($2.60) of MNKD at deal announcement. A series of 30,000,000 12-Month Warrants with an exercise price of $2.60 per share (0% premium) was issued to the investors in this transaction. Jefferies & Company and Piper Jaffray acted as lead agents with JMP Securities, Griffin Securities, and Imperial Capital acting as co-agents on the transaction. Placement Agent counsel was Latham & Watkins, and issuer counsel was Cooley.
Rigel Pharmaceuticals (RIGL) announced that it has raised $130 million in a CMPO/Overnight transaction. The common stock was sold at $9.50 per share, an approximate 8% discount to the market price ($10.35) of RIGL at deal announcement. J.P. Morgan Chase and Jefferies & Company acted as lead agents with BMO Capital Markets, Piper Jaffray, Wells Fargo Securities and Citigroup Global Markets acting as co-agents on the transaction. Placement Agent counsel was Wilson Sonsini Goodrich & Rosati, and issuer counsel was Cooley. The transaction is expected to close by Oct.
