TARRYTOWN, N.Y.--(BUSINESS WIRE)--EpiCept Corporation (Nasdaq and OMX Stockholm Exchange: EPCT) announced today that it has entered into a definitive agreement with an institutional investor for the purchase of approximately 7.1 million shares of its common stock at $0.65 per share, and five and one half year warrants to purchase up to approximately 5.3 million shares of common stock at an exercise price of $0.72 per share that are not exercisable for six months following the closing date of the offering. EpiCept will receive approximately $4.3 million in net proceeds from the offering. The offering is expected to close on or about March 31, 2011, subject to customary closing conditions.
