Sun Biopharma prices $10.5M equity offering
- Sun BioPharma (OTCQB:SNBP) has priced a public offering of 2,545,454 common stock and the same number of warrants at $4.125/share and warrant, for gross proceeds of ~$10.5M.
- Each warrant entitles the holder to purchase one share of common stock at $4.54 /share.
- The company will kick-off trading today on the Nasdaq Capital Market.
- Closing date is September 1.
- Net proceeds will be used for working capital and general corporate purposes.