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Stock impact report

Galectin Therapeutics Raises $44.5 Million in Rights Offering and $2.5 Million from Warrant Exercise

Galectin Therapeutics Inc. (GALT) 
Last galectin therapeutics inc. earnings: 11/12 08:00 am Check Earnings Report
Company Research Source: GlobeNewswire
NORCROSS, Ga., May 28, 2019 (GLOBE NEWSWIRE) -- Galectin Therapeutics Inc. (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today announced its Rights Offering has closed.  The Rights Offering resulted in the issuance of approximately 10.4 million shares of the Company’s common stock at a price of $4.28 per share, for total gross proceeds of $44.5 million to the Company. Investors in the Rights Offering also received warrants for the purchase of approximately 2.6 million shares of the Company’s common stock with an exercise price of $7.00 per share, which expire seven years after issuance. After giving effect to the rights offering, the Company has approximately 56 million shares of common stock issued and outstanding. Richard E. Uihlein, Chairman of the Board of Directors, subscribed for $20,033,000 in the Rights Offering. Mr. Uihlein stated, “We are pleased with the results of the Rights Offering and are gratified that so many of our s Show less Read more
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