Rexahn Pharmaceuticals, Inc. Prices Public Offering of Stock
Published: Nov 29, 2012
ROCKVILLE, Md.--(BUSINESS WIRE)--REXAHN PHARMACEUTICALS, INC. (NYSE MKT: RNN) today announced the pricing of an underwritten public offering of 19,130,435 shares of its common stock and warrants exercisable for up to 10,521,739 additional shares at $0.33 per fixed combination of shares and warrants for gross proceeds of approximately $6.3 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company and excluding the exercise of any warrants and any exercise of the underwriters’ over-allotment option. Each fixed combination will consist of one share and a warrant to purchase up to 0.55 of a share. The warrants will have an exercise price of $0.472 per share and a 5-year term. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,869,565 shares of its common stock and warrants exercisable for up to 1,578,261 additional shares to cover over-allotments, if any.