Business
Cocrystal Pharma Announces $6.8 Million Registered Direct Offering Priced At-the-Market
BOTHELL, WA, March 09, 2020 (GLOBE NEWSWIRE) -- COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the “Company”), a clinical stage biotechnology company
About this update from Cocrystal Pharma, Inc.
[{"type":"text","content":"BOTHELL, WA, March 09, 2020 (GLOBE NEWSWIRE) -- COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the “Company”), a clinical stage biotechnology company discovering and developing novel antiviral therapeutics, today announced that it has entered into definitive agreements with several institutional investors for the purchase of 5,037,038 shares of its common stock at a price of $1.35 per share, for aggregate gross proceeds of approximately $6.8 million, in a registered direct offering priced at-the-market under Nasdaq rules. The Company intends to use the net proceeds for working capital and other general corporate purposes.\n H.C. Wainwright & Co. is acting as exclusive placement agent for the offering. The offering is expected to close on or about March 11, 2020, subject to the satisfaction or waiver of customary closing conditions. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-220632) previously filed with the Securities and Exchange Commission (SEC). A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at [email protected] or by phone at (646) 975-6996. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Cocrystal Pharma, Inc. Cocrystal Pharma, Inc. is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, and noroviruses. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to our ability to complete the offering, our intended use of proceeds and other statements that are not historical fact. We have base...