EpiCept Corporation (EPCT) Announces Pricing of Public Offering
8/4/2008 9:35:02 AM
TARRYTOWN, N.Y.--(BUSINESS WIRE)--Regulatory News:
EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) announced today the pricing of a public offering of approximately 5.53 million shares of its common stock at $.5425 per share and five-year warrants to purchase up to approximately 2.76 million shares of common stock at an exercise price of $.48 per share. EpiCept will receive approximately $2.65 million in net proceeds from the offering. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM) acted as the exclusive placement agent for the offering. EpiCept intends to use the net proceeds it receives to meet its working capital needs and for general corporate purposes into August 2008 and to repay a portion of its senior secured loan.