Auris Medical raises $7M in a common stock and warrant offering
Auris Medical announced the pricing of an underwritten public offering of 17,948,717 common shares, Series A warrants to purchase 6,282,050 common shares and Series B warrants to purchase 4,487,179 common shares. The securities are being offered in a unit comprised of one share, one Series A warrant to purchase 0.35 of a share and one Series B warrant to purchase 0.25 of a share. The combined public offering price per unit is $0.39. The Series A warrants will have an initial per share exercise price of CHF 0.39, subject to customary adjustment, are exercisable immediately and will expire 7 years from the date of issuance. The Series B warrants will have an initial per share exercise price of CHF 0.39, subject to adjustment in the event the company issues certain securities within 18 months of the date of issuance of the Series B warrants, are exercisable immediately and will expire on June 18, 2020. A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.