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CHF Solutions announced the pricing of its public offering of Series F convertible preferred stock for gross proceeds of $18 million.
CHF Solutions (NASDAQ:CHFS) announced the pricing of its public offering of Series F convertible preferred stock for gross proceeds of $18 million.
As quoted in the press release:
The Series F preferred stock is convertible into shares of the company’s common stock at a conversion price of $4.50 per share. Each share of Series F preferred stock will be accompanied by a Series 1 warrant, which expires on the first anniversary of its issuance, to purchase 223 shares of the company’s common stock at an exercise price of $4.50 per share, and a Series 2 warrant, which expires on the seventh anniversary of its issuance, to purchase 223 shares of the company’s common stock at an exercise price of $4.50 per share.
The Series F preferred stock and the warrants are immediately separable and will be issued separately. The closing of the offering is expected to take place on or about November 27, 2017, subject to the satisfaction or waiver of customary closing conditions.
Click here to read the full press release.
Source: globenewswire.com
