AIT Therapeutics Announces $9.82 Million Private Placement

AIT Therapeutics (OTC:AITB), a clinical-stage biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with serious lung infections and pulmonary hypertension, today announced that it has completed a private placement with a select group of investors, which, assuming the exercise of the Tranche A portion of the warrants (as described below) sold in the private placement, will result in gross proceeds to the Company of approximately $9.82 million, before deducting placement agent fees and offering expenses.

As quoted in the press release:

The private placement consists of warrants to purchase shares of the Company’s common stock.  Each warrant is comprised of 2,299,802 Tranche A warrants to purchase one share of common stock at an exercise price of $4.25 per share, exercisable within three days from warrant issuance, and an equal number of Tranche B warrants to purchase one share of common stock at an exercise price of $4.25 per share, exercisable within three years from warrant issuance.  The Company has also agreed to provide the investors customary resale registration rights with respect to the shares of common stock issuable upon exercise of the warrants.

Click here to read the full press release.