Business
Nephros Announces Pricing of $7.5 Million Underwritten Offering of Common Stock
SOUTH ORANGE, NJ, Jan. 31, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Nephros, Inc. (Nasdaq: NEPH) (“Nephros” or the “Company”), a commercial-stage company
About this update from Nephros, Inc.
[{"type":"text","content":"SOUTH ORANGE, NJ, Jan. 31, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Nephros, Inc. (Nasdaq: NEPH) (“Nephros” or the “Company”), a commercial-stage company that develops and sells high performance water purification products and pathogen detection systems to the medical device and commercial markets, today announced the pricing of a firm commitment underwritten offering of 937,500 shares of common stock at a price to the public of $8.00 per share for aggregate gross proceeds of approximately $7,500,000, before underwriting discounts and offering expenses. The offering is expected to close on or about February 4, 2020, subject to the satisfaction of customary closing conditions.\n Craig-Hallum Capital Group is acting as sole managing underwriter for the offering. Maxim Group LLC and The Benchmark Company, LLC are each acting as financial advisors to Nephros. Net proceeds of the offering, after underwriting discounts but before offering expenses, are expected to be approximately $7,050,000. Nephros intends to use the net proceeds of the offering for working capital and general corporate purposes. The shares are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-234528) that was previously filed with the Securities and Exchange Commission (the “SEC”), and was declared effective on December 6, 2019. The shares may be offered only by means of a prospectus. Copies of the prospectus supplement and accompanying prospectus related to the offering, when available, may be obtained from Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, Attention: Equity Capital Markets, by telephone at 612-334-6300, or by email at [email protected] or on the SEC’s website at www.sec.gov. 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 other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Nephros, Inc. Nephros is a commercial stage company that develops and sells high performance water purification products and pathogen detection systems to the medical device and commercial markets. Nephros ultrafilters and pathogen ...