DOW JONES25,409.36-357.28 -1.39%
S&P 5002,954.22-24.54 -0.82%
NASDAQ8,567.37+0.89 0.01%

NanoViricides Prices 2.5M Share Underwritten Public Offering of Common Stock @$3.00/Share

NanoViricides, Inc. (NYSE: NNVC) announced the pricing of an underwritten public offering with gross proceeds to the Company of $7.5 million before deducting underwriting and other estimated offering expenses. The offering is 2.5 million shares of the Company'

Benzinga · 01/22/2020 10:14

NanoViricides, Inc. (NYSE: NNVC) announced the pricing of an underwritten public offering with gross proceeds to the Company of $7.5 million before deducting underwriting and other estimated offering expenses. The offering is 2.5 million shares of the Company's common stock at a price of $3.00 per share. The Company intends to use the net proceeds from this offering to fund general corporate purposes and to fund ongoing operations and to repay certain accounts payable to related parties.

The Company has also granted the underwriters a 45-day option to purchase up to 375,000 additional shares of common stock to cover over-allotments at the public offering price.

Aegis Capital Corp. is acting as sole bookrunner for the offering.