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Opexa Therapeutics Inc Announces Closing Of Public Offering Of Common Stock


Tuesday, 13 Aug 2013 11:12am EDT 

Opexa Therapeutics Inc announced that the closing of the previously announced underwritten public offering of 12,000,000 shares of its common stock at a price to the public of $1.50 per share. The gross proceeds to Opexa from this offering were $18 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares in the offering were sold by Opexa. Opexa has also granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock to cover over-allotments, if any. Opexa intends to use the net proceeds from the offering to fund further clinical development of Tcelna in an ongoing Phase IIb clinical study of patients with Secondary Progressive MS as well as the expenses of its operations during such development and for general corporate purposes. Opexa may also use a portion of the net proceeds to repay all or a portion of its outstanding convertible secured promissory notes. Aegis Capital Corp. acted as sole book-running manager for the offering. 

Company Quote

1.43
-0.03 -2.05%
27 Aug 2014