Apricus Bio Announces Pricing of Securities Offering at $5.40 per Unit
Apricus Biosciences (Nasdaq: APRI) today announced that it has entered into agreements with selected investors to sell up to 1,728,882 Units at a price per Unit of $5.40, for aggregate gross proceeds of approximately $9.3 million.
Each Unit consists of three shares of common stock and one warrant, exercisable at a price of $2.27 per share. The warrants may be exercised at any time after six months from the date of the closing and will expire after five years. The offering is expected to close on or about October 4, 2010, subject to customary closing conditions.
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