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Can-Fite BioPharma Prices ~3.33M Unit Offering At $1.50/Unit

Can-Fite BioPharma Ltd. (NYSE:CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address cancer, liver and inflammatory diseases, today announced the pricing of a

Benzinga · 02/10/2020 19:50

Can-Fite BioPharma Ltd. (NYSE:CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address cancer, liver and inflammatory diseases, today announced the pricing of a public offering of 3,333,334 units at a price to the public of $1.50 per unit. The Company expects to receive aggregate gross proceeds of approximately $5.0 million from the offering, before deducting the placement agent fees and estimated offering expenses. Each unit is comprised of one American Depositary Share (ADS) (or ADS equivalent) and one warrant to purchase one ADS at an exercise price of 1.50 per ADS. The warrants are immediately exercisable upon issuance and have a term of five years. Each ADS represents 30 ordinary shares of the Company. The ADSs (or ADS equivalents) and the accompanying warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance.