Ohr Pharmaceutical Gives Details On Public Offering

Ohr Pharmaceutical (NASDAQ:OHRP) announced that it has priced a registered public offering at a price to the public of $0.70 per share.
As quoted in the press release:

Accompanying warrant to purchase 0.7 of a share of common stock at an exercise price of $1.00. The warrants are immediately exercisable and have a term of five years.  Pursuant to signed securities purchase agreements received by the Company, a closing with respect to an aggregate of 20,250,032 shares of common stock accompanied by warrants to purchase up to an aggregate of 14,175,059 shares of common stock is expected to be held on or about April 10, 2017, subject to receipt of investors’ funds in escrow and satisfaction of customary closing conditions.

Rodman & Renshaw, a unit of H.C. Wainwright & Co., and Chardan are acting as the co-lead placement agents for the offering.  The offering is being conducted as a “best efforts” offering and neither placement agent is obligated to purchase any securities.
The Company intends to use the proceeds from the offering for working capital and other general corporate purposes, including the completion and data readout of its ongoing clinical study.
The securities described above are being offered by the Company pursuant to a shelf registration statement (File No. 333-201368) previously filed and declared effective by the Securities and Exchange Commission (“SEC”) on January 21, 2015.  A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and a final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC by e-mailing placements@hcwco.com or by calling (646) 975-6996, or Chardan Capital Markets, LLC, at +1 (646) 465-9000, or by accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Ohr Pharmaceutical, Inc.
Ohr Pharmaceutical, Inc. (OHRP) is an ophthalmology research and development company. The company’s lead drug candidate, Squalamine lactate ophthalmic solution, 0.2% (also known as OHR-102), is currently being studied using an eye drop formulation in a clinical trial for the treatment of the wet form of age-related macular degeneration.  In addition, Ohr has a sustained release micro fabricated micro-particle ocular drug delivery platform technology. Additional information on the company may be found at www.ohrpharmaceutical.com.

Click here to read the full press release.