Moleculin Biotech (MBRX) said Tuesday it has struck a deal to sell about 3.3 million shares and warrants to purchase up to some 6.5 million shares at $1.07 per share and accompanying warrants to an institutional investor.
The warrants will have an exercise price of $1.07 per share and will expire 5 years from the initial exercise date, the firm said. The investor can also buy pre-funded warrants in lieu of shares.
Moleculin said it expects to close the offering Feb. 26, with Roth Capital Partners as the placement agent. It plans to use the net proceeds for working capital and general corporate purposes.
The shares were up more than 12% in recent trading.
Price: 1.20, Change: +0.13, Percent Change: +12.15
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