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Neurotrope inks $20M capital raise at substantial discount

Published 11/18/2016, 08:43 AM
Neurotrope inks $20M capital raise at substantial discount
NTRP
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  • Neurotrope (OTCQB:NTRP) enters into a Securities Purchase Agreement with certain investors to issue 100,917,500 shares of common stock and five-year warrants to purchase an equivalent number of shares of common at a combined price of $0.20. The warrants are exercisable at $0.40.
  • The company will receive a minimum of $8M at the initial closing of the transaction and will receive up to $20.2M. Under the terms of the agreement, it may sell additional shares of stock and related warrants to one or more buyers before the end of the month.
  • Net proceeds will fund the development of Bryostatin.
  • Yesterday's close was $0.52.


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