Retrophin, LLC Raises $10.0 Million in Private Placement
2/12/2013 9:50:31 AM
NEW YORK--(BUSINESS WIRE)--Desert Gateway (OTCPK: RTRX), the parent company of Retrophin, Inc., a biotechnology company focused on discovering and developing treatments for rare and life-threatening diseases, today announced it has entered definitive agreements with institutional investors in connection with a private placement, or PIPE financing. Upon closing of the transaction, the Company will receive gross proceeds of approximately $10.0 million in exchange for the issuance to such investors of 3,333,332 shares of common stock and warrants to purchase an additional 1,530,559 shares of common stock of the Company. Closing of the transaction is expected to occur the week of February 11, 2013 and is subject to customary closing conditions.