Biotech

Auris Medical (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology, today announced that it has entered into a securities purchase agreement with investors providing for the purchase and sale of 12,499,999 common shares at a price of $0.44 per share (payable in Swiss Francs) in a …

Auris Medical (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology, today announced that it has entered into a securities purchase agreement with investors providing for the purchase and sale of 12,499,999 common shares at a price of $0.44 per share (payable in Swiss Francs) in a registered direct offering, resulting in total gross proceeds of approximately $5.5 million (or approximately CHF 5.1 million).
As quoted in the press release:

The warrants have an exercise price of $0.50 per share. The warrants will be exercisable immediately upon the closing date and will expire seven years from the date they become exercisable. The closing of the offering is expected to take place on or about January 30, 2018, subject to the satisfaction of customary closing conditions.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American:LTS), is acting as exclusive placement agent for the registered direct offering and the concurrent private placement.

Click here to read the full press release.

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