CNS Pharmaceuticals ( NASDAQ: CNSP ) on Wednesday said it has entered into securities purchase agreements with healthcare-focused institutional investors for the purchase and sale of 1.43M shares of common stock in a registered direct offering and warrants to purchase up to 1.43M shares of common stock in a concurrent private placement at a combined purchase price of $1.
39 per share. CNSP is +21.42% to $1.
53. The warrants issued pursuant to the concurrent private placement will have an exercise price of $1.26 per share, will be exercisable immediately following the date of issuance and will expire 5 years from the initial exercise date.
The closing of the Offering is expected to occur on or about July 5. The gross proceeds from the offering are expected to be about $1.98 million.
The company intends to use the net proceeds for working capital and general corporate purposes. Source: Press Release More on CNS Pharmaceuticals CNS Pharmaceuticals drops 6%, prices $1.37M offering Financial information for CNS Pharmaceuticals.
