Rexahn Pharma nets $6.5M in direct equity offering

• Thinly traded nano cap Rexahn Pharmaceuticals (RNN -5.8%) nets ~$6.5M in a direct offering of 16,666,667 units to a single institutional investor at $0.42 per unit.
• Each unit consists of one share of common stock and one five-year warrant to purchase 0.75 of a share of common at $0.53 per share (aggregate of up to 12.5 shares).