Seneca Biopharma Announces the Closing of its $5 Million Registered Direct Offering
Seneca Biopharma, Inc. (SNCA)
Company Research
Source: PR Newswire
GERMANTOWN, Md., May 27, 2020 /PRNewswire/ -- Seneca Biopharma, Inc. (Nasdaq:SNCA), a clinical-stage biopharmaceutical company developing novel treatments for various diseases of high unmet medical need, today announced the closing of its previously announced $5 million registered direct offering. Pursuant to the terms of the offering, Seneca sold an aggregate of 5 million shares of its common stock at a sales price $1.00 per share. Seneca intends to use the net proceeds from the offering for general working capital.H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.The shares of common stock are registered pursuant to a registration statement on Form S-3 (File No. 333-218608) which became effective by the Securities and Exchange Commission (SEC) on June 23, 2017. The offering was made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus
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