LEXINGTON, Mass.--(BUSINESS WIRE)--Critical Therapeutics, Inc. (Nasdaq: CRTX) today announced that it has closed on the previously announced sale of $20.0 million of common stock and warrants in a registered direct offering. Under the terms of the transaction, Critical Therapeutics sold 7,455,731 units for a purchase price of $2.6825 per unit to a select group of institutional investors. Each unit consists of one share of common stock and one warrant to purchase 0.5 shares of common stock at an exercise price of $2.62 per share of common stock. The warrants will be exercisable at any time on or before October 26, 2011. Lazard Capital Markets LLC served as exclusive placement agent for the offering.
