DelMar Pharmaceuticals announces $3.6M registered direct offering
DelMar Pharmaceuticals announced that it entered into securities purchase agreements with certain institutional investors in connection with a registered direct offering of an aggregate of 1,170,000 shares of common stock and, in a concurrent private placement, warrants to purchase 760,500 shares of common stock. The combined purchase price for one share of common stock and each warrant will be $3.10, for aggregate gross proceeds of $3.6M. The warrants have an exercise price of $3.10 per share, are immediately exercisable and have a term of exercise of five years. The offering and concurrent private placement are expected to close on or about June 5, subject to the satisfaction of customary closing conditions. Maxim Group is acting as the lead placement agent and Dawson James Securities is acting as co-placement agent in connection with the offering and concurrent private placement.