SAN MATEO, Calif., April 27 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq:NLTX - News), a company focused on the development of novel therapeutics for heart failure patients, announced the closing of its previously announced underwritten public offering of 6,500,000 units of its securities consisting of an aggregate of 6,500,000 shares of common stock and warrants to purchase an aggregate of 1,950,000 shares of common stock. Each unit consisted of one share of Nile common stock and 0.30 warrants to purchase common stock. Each warrant has a term of five years and represents the right to purchase one share of common stock at an exercise price of $0.94 per share. The units immediately separated and the common stock and warrants were issued separately. The warrants began trading on the Nasdaq Capital Market on April 22, 2010 under the symbol “NLTXW”. Each unit was sold at a public offering price of $0.70.
