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Catalyst Biosciences slumps after announcing plans to raise US$18mln

Friday, April 7, 2017 8:57
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(Before It's News)

Shares in Catalyst Biosciences Inc (NASDAQ:CBIO) were marked down more than $2 to US$5.341 as it announced plans to raise US$18mln.

The clinical stage biopharmaceutical company focused on blood-related diseases announced an offering of Class A units, priced at US$5, and Class B units, priced at US$1,000.

The class A units comprise one Catalyst shares plus a warrant to buy half a share, with an exercise price of US$5.50.

The class B units comprise one preferred share, convertible into 200 shares of common stock, and a warrant to purchase 100 shares of common stock at an exercise price of US$5.50.

Story by ProactiveInvestors


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