Titan Pharmaceuticals -3% on pricing of $9.7M direct offering

Jan. 15, 2021 9:43 AM ETTitan Pharmaceuticals, Inc. (TTNP)TTNPBy: Pranav Ghumatkar, SA News Editor
  • Titan Pharmaceuticals (TTNP -2.9%) enters into a securities purchase agreement to purchase ~$9.7M of its common stock and warrants in a registered direct offering.
  • The combined purchase price for one share of common stock and each warrant will be $3.55.
  • Under the terms, it has agreed to sell ~2.73M shares of its common stock and warrants to purchase up to an aggregate of ~2.73M shares of common stock.
  • Net proceeds from the registered direct offering and concurrent private placement to be ~$8.9M.
  • Closing date on or about Jan. 20, 2021.

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