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Altimmune executes $14.7M convertible stock deal

Aug. 17, 2017 8:16 AM ETAltimmune, Inc. (ALT) StockBy: Douglas W. House, SA News Editor4 Comments
  • Altimmune (NASDAQ:ALT) inks agreements with existing and new investors for the sell of 15,656 shares of Series B convertible preferred stock and warrants yielding gross proceeds of $14.7M. Closing date is August 21.
  • The preferred stock will be sold at a 6% discount to the stated value of $1,000 per share. The five-year warrants are immediately exercisable into an aggregate of 2,345,427 shares of common stock at $2.67.
  • Net proceeds will fund pipeline development, strategic growth opportunities and general corporate purposes.
  • Yesterday's close was $2.17.

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