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Aytu still under pressure from equity offering

Published 08/15/2017, 10:37 AM
© Reuters.  Aytu still under pressure from equity offering
AYTU
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  • Thinly traded nano cap Aytu Biosciences (OTCQX:AYTU -2.2%) remains depressed after it announced an $11.5M private placement of equity units Friday evening. Shares are down 33% since then.
  • Each Class A unit, comprised of one share of common stock and one warrant to purchase 1 1/2 shares of common, was sold at $0.15.
  • Each Class B unit, consisting of one share of Series A Preferred Stock and warrants to purchase 1 1/2 shares of common stock for each convertible share, was sold at $1,000.
  • The five-year warrants are exercisable at $0.18 per common share.
  • Net proceeds will fund sales & marketing expenses related to Natesto, working capital and general corporate purposes.
  • Now read: Cocrystal Pharma completes early-stage study of HCV candidate CC-31244; shares ahead 5%


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