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Pulmatrix Inc expects USD14.4m from upsized public offering of units.

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Global Banking News-April 4, 2019-Pulmatrix Inc expects USD14.4m from upsized public offering of units

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Biopharmaceutical company Pulmatrix Inc (NASDAQ:PULM) said on Wednesday that it has priced its upsized public offering of 10,666,666 units at USD1.35 per unit.

Each unit is comprised of common stock (or common stock equivalent) and one warrant to purchase one share of common stock. Each common warrant has an exercise price of USD1.35 per share which is exercisable immediately and will expire five years from the date of issuance. The common stock (or common stock equivalents) and the accompanying common warrants can only be purchased together, but will be issued separately and will be immediately separable upon issuance.

Pulmatrix has provided the underwriter with a 30-day option to purchase up to 1,599,999 additional shares of common stock and/or warrants to purchase...

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