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Stock impact report

Palatin Announces Closing of $10 Million Registered Direct Offering [Yahoo! Finance]

Palatin Technologies, Inc. (PTN) 
NASDAQ:AMEX Investor Relations: palatin.com/investors/overview
Company Research Source: Yahoo! Finance
developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, today announced the closing of its previously announced registered direct offering of 1,831,503 shares of its common stock, at a purchase price of per share of common stock. Palatin has also issued in a private placement warrants to purchase up to an aggregate of 1,831,503 shares of common stock at an exercise price of per share. The warrants are exercisable on the six month anniversary of the closing date and will expire on the date that is four years after the closing date. H.C. Wainwright & Co. acted as exclusive placement agent for the offering. The gross proceeds from the offering were approximately $10 million before deducting placement agent fees and estimated offering expenses. Palatin intends to use the net proceeds of this offering for general corporate purposes. The shares of common stock described above (excluding the warrants and the shares of commo Show less Read more
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