Ritter Pharmaceuticals Announces Agreement for $6.0 Million At-Market Private Placement of Series B Convertible Preferred Stock and Warrants
RITTER PHARMACEUTICALS (RTTR)
Last ritter pharmaceuticals earnings: 8/14 05:11 pm
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US:NASDAQ Investor Relations:
ritterpharmaceuticals.com/investors
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Source: GlobeNewswire
LOS ANGELES, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Ritter Pharmaceuticals, Inc. (Nasdaq: RTTR) (“Ritter Pharmaceuticals” or the “Company”), a developer of novel therapeutic products that modulate the gut microbiome to treat gastrointestinal diseases (GI) with an initial focus on the development of RP-G28, a drug candidate with the potential to be the first FDA-approved treatment for lactose intolerance (LI), today announced that it has entered into a definitive agreement with certain accredited investors, including two current institutional holders of our Series A convertible preferred stock, a key vendor and a member of the Company’s board of directors, for a private placement of newly designated Series B convertible preferred stock and warrants. The private placement is expected to close on November 2, 2018, subject to satisfaction of customary closing conditions. At closing, the Company expects to receive gross proceeds of approximately $6.0 million, before deducting placement agent
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