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Zosano Pharma Announces $11M Registered Direct Offering Priced At-The-Market

Zosano Pharma Corporation(NASDAQ:ZSAN) ("Zosano"), a clinical-stage biopharmaceutical company, today announced that it has entered into definitive agreements with institutional investors for the issuance and

Benzinga · 03/05/2020 13:04

Zosano Pharma Corporation(NASDAQ:ZSAN) ("Zosano"), a clinical-stage biopharmaceutical company, today announced that it has entered into definitive agreements with institutional investors for the issuance and sale in a registered direct offering of 11,903,506 shares of its common stock and warrants to purchase up to 11,903,506 shares of its common stock, at a combined purchase price of $0.9275 per share and associated warrant, for aggregate gross proceeds of approximately $11 million in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $0.8025 per share, are immediately exercisable and will expire five years from the date of issuance.