The offering includes 2,702,822 shares of common stock and warrants to purchase 1,081,129 shares of common stock. The price per share of Common Stock is $1.12, and the exercise price of the warrants is $1.60. The Warrants will be exercisable for a period of five years commencing six months following the issuance thereof. The closing is scheduled to take place no later than October 12, 2009.
ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced today that it has obtained commitments to purchase shares of its Series D convertible preferred stock pursuant to a registered direct offering to institutional investors, representing gross proceeds to ADVENTRX of approximately $11.3 million. ADVENTRX plans to use the net proceeds from the offering to fund its operations during the FDA review period of an ANX-530 NDA and to continue development of ANX-514, and for general corporate purposes.
Threshold Pharmaceuticals, Inc. (Nasdaq:THLD), today announced the completion of its previously announced private placement of common stock and warrants. Investors in the offering purchased units consisting of one share of common stock and a warrant to purchase 0.4 of a share of common stock at a purchase price of $1.91, which is equal to the consolidated closing bid price of the common stock as reported on the NASDAQ Capital Market for September 29, 2009, plus $0.05. The warrants have an exercise price equal to $2.23 per share, subject to adjustment under certain circumstances, and an expiration date of October 5, 2014. The Company raised gross proceeds of approximately $35 million and issued approximately 18.3 million shares of common stock and warrants to purchase approximately 7.3 million shares of common stock.
Finally, on Monday Dyax Corp. (NASDAQ: DYAX) today announced the completion of the public offering of 5,500,000 shares of its common stock. The net proceeds to Dyax from the sale of shares in this offering, after deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $20.5 million. Dyax intends to use the net proceeds from the offering to fund the development and commercialization of DX-88, the Company’s ongoing research and preclinical activities, and for general corporate purposes.
