Aevi Genomics Medicine raises $28M in a private placement
Aevi Genomics Medicine announced the execution of a definitive agreement to sell shares of common stock and warrants to purchase common stock in a private placement, or PIPE, to certain accredited investors, led by Children's Hospital of Philadelphia Foundation. The Company will sell 22.2 million shares of its common stock with warrants to purchase approximately 4.0 million additional shares of its common stock, for aggregate proceeds of $28.0 million, before expenses. The CHOP Foundation led the financing, with additional participation by other undisclosed existing blue-chip investors. The CHOP Foundation has committed to provide up to an additional $5.0 million of equity financing through June 30, 2018, subject to certain terms and conditions.