TARRYTOWN, N.Y.--(BUSINESS WIRE)--Regulatory News:
EpiCept Corporation (Nasdaq OMX Stockholm Exchange and OTCQX: EPCT) today announced that, effective January 9, 2012, it has reduced the exercise price and extended the expiration date of its outstanding Series B Common Stock Purchase Warrants that were issued in a registered direct offering that closed on June 30, 2010. These Series B Warrants, which originally would have expired at the close of business on January 9, 2012, are exercisable for up to 6,136,363 shares of EpiCept’s common stock; the original exercise price was $1.64 per share. The exercise price has been reduced to $0.20 per share, and the expiration date has been extended to the close of business on the earlier of (i) April 9, 2012 or (ii) a date selected by EpiCept in its sole discretion, with respect to which date EpiCept provides written notice to the warrant holder not less than ten business days in advance.
