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GTx Inc announces pricing of private placement of common stock


Tuesday, 4 Mar 2014 06:30am EST 

GTx Inc:Entered into securities purchase agreement with J.R. Hyde, III, the chairman of GTx's Board of Directors, and The Pyramid Peak Foundation.To issue and sell in private placement to these purchasers aggregate of 11,976,048 immediately separable units.Comprised of aggregate of 11,976,048 shares of GTx common stock and warrants to purchase up to 10,179,642 additional shares of common stock.Total purchase price payable to GTx for units is $21,272,455.42, or about $1.77625 per unit.Warrants, which may only be exercised for cash, will have a per share exercise price of $1.67 (equal to the closing bid price of GTx's common stock on March 3, 2014) and a one year term.Securities purchase agreement will terminate if the closing of the private placement has not occurred on or prior to April 15.Provided that purchasers in private placement may, in their sole discretion, extend such date to August 15. 

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27 Feb 2015