WORCESTER, Mass.--(BUSINESS WIRE)--RXi Pharmaceuticals Corporation (Nasdaq: RXII), a biopharmaceutical company pursuing the development and commercialization of proprietary therapeutics based on RNA interference (RNAi), announced today that it has obtained commitments from several investors to purchase 2.7 million shares of its common stock at $6.00 per share and warrants to purchase 540,000 shares of its common stock for gross proceeds of $16.2 million. The investors have agreed to purchase the shares and warrants for $6.00 per unit (each unit consisting of one share and a warrant to purchase 0.2 shares of common stock). The exercise price of the warrants will be $6.00 per share. The warrants will be exercisable at any time on or after the sixth-month anniversary of the closing date through and until the 78-month anniversary of the closing of the offering.
