Arch Therapeutics, Inc. $2.8 Million Registered Direct Offering
Arch Therapeutics, Inc. (ARTH)
NASDAQ:AMEX Investor Relations:
ir.archtherapeutics.com
Company Research
Source: GlobeNewswire
FRAMINGHAM, Mass., May 13, 2019 (GLOBE NEWSWIRE) -- Arch Therapeutics, Inc. (OTCQB: ARTH)(“Arch” or the “Company”), a developer of novel liquid, gel and solid hemostatic and wound care devices, today announced the pricing of registered direct offering of approximately 8.6 million units, each unit consisting of a share of the Company’s common stock, and a Series H Warrant (“Series H Warrant”) to purchase 1 (one) share of our common stock for the combined purchase price of $0.325 per unit. The Series H Warrants have an exercise price of $0.40 per share and are exercisable for a period of five years. The gross proceeds to Arch from this offering are approximately $2.8 million before deducting estimated offering expenses payable by the Company. The offering is expected to close on or about May 14, 2019, subject to customary closing conditions. The securities described above are being offered by Arch pursuant to a registration statement previously filed with and subsequently declared e
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