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Stock impact report

Rockwell Medical Announces Financing Transaction

Rockwell Medical, Inc. (RMTI) 
Last rockwell medical, inc. earnings: 3/12 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.rockwellmed.com
Company Research Source: PR Newswire
WIXOM, Mich., Oct. 15, 2018 /PRNewswire/ -- Rockwell Medical, Inc. (NASDAQ:RMTI) (the "Company" or "Rockwell Medical") today announced that it has agreed to sell up to 7,556,675 units to The RBI Opportunities Fund, LLC, an affiliate of Richmond Brothers, Inc. ("Richmond") in a private placement, with each unit consisting of one share of common stock and a warrant to purchase 50% of a share of common stock. The units are being sold at $3.97 per unit, which is equivalent to the closing stock price of the Company's common stock on October 12, 2018, the last trading day prior to pricing this transaction. The warrants, which are not exercisable for six months from closing, have a strike price of $4.96 per full share of common stock and have a five-year term from issuance. The Company will sell an initial 5,541,562 units for proceeds of $22 million in an offering that is expected to close on October 17, 2018, subject to satisfaction of customary closing conditions. Additionally, through Oct Show less Read more
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