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Delcath Systems Announces Pricing of $22 Million Public Offering and Uplisting to the Nasdaq Capital Market
NEW YORK, May 01, 2020 (GLOBE NEWSWIRE) -- Delcath Systems, Inc. (OTCQB:DCTH NASDAQ:DCTH), an interventional oncology company focused on the treatment of rare
About this update from Delcath Systems, Inc.
[{"type":"text","content":"NEW YORK, May 01, 2020 (GLOBE NEWSWIRE) -- Delcath Systems, Inc. (OTCQB:DCTH NASDAQ:DCTH), an interventional oncology company focused on the treatment of rare primary and metastatic cancers of the liver, today announced the pricing of a $22 million underwritten public offering of 2.2 million shares of common stock (or common stock equivalents) and Series F warrants to purchase up to 2.2 million shares of common stock. Each share of common stock (or common stock equivalent) is being sold with one Series F warrant to purchase one share of common stock at a combined public offering price of $10.00 per share and related Series F warrant. The Series F warrants will be immediately exercisable at a price of $10.00 per share and will expire on the fifth anniversary of their issuance date. The offering is expected to close on May 5, 2020, subject to the satisfaction of customary closing conditions.\n Delcath also announced that, in connection with the offering, its common stock has been approved for listing on the Nasdaq Capital Market and will begin trading on the Nasdaq Capital Market under the symbol “DCTH” on May 1, 2020. Delcath intends to use the net proceeds of the offering for working capital and general corporate purposes, including the continued development of Melphalan/HDS. Roth Capital Partners acted as sole book-running manager for the offering. Aegis Capital Corp. and Laidlaw & Company (UK) Ltd. acted as co-lead managers for the offering. A registration statement relating to the securities being sold in this offering was filed with the Securities and Exchange Commission (SEC) on January 13, 2020 and was declared effective on April 30, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. Copies of the final prospectus will be filed with the Securities and Exchange Commission and, when available, electronic copies of the final prospectus may be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by at (800) 678-9147, or by accessin...