Can-Fite in $9-million registered direct offering
Can-Fite BioPharma (NYSE MKT:CANF; TASE:CFBI) has entered into definitive agreements with institutional investors to raise $9-million through the sale of 2,068,966 American Depository Shares (ADS) at a price of $4.35 each in a registered direct offering.
For each ADS purchased, investors will receive an unregistered warrant to purchase one-half of an ADS. The warrants have an exercise price of $5.25 each, will be exercisable six months following the issuance date and will expire in five and one-half years.
Closing is set for Sept. 23. H.C. Wainwright is acting as the exclusive placement agent for the offering.