Cortex Pharma to raise $14.2 mln from stock, warrant offering

Aug 24 (Reuters) - Cortex Pharmaceuticals Inc (COR.A) said it expects to raise about $14.2 million through a sale of stocks and warrants to institutional investors.

The company said it will sell about 7.1 million shares and issue warrants to purchase about 2.8 million shares with an exercise price of $2.64 per share.

Cortex plans to use the net proceeds to speed up the development of its Ampakine memory enhancing drug, among other things. (Reporting by Tenzin Pema in Bangalore)