- 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.