Catalyst Pharmaceutical Partners Inc. (CPRX) has reached definitive agreements to sell 4.0 million common shares, and common stock purchase warrants to buy an aggregate of 1.2 million shares, in a registered direct public offering. The aggregate offering price for each share and corresponding warrant is $1.50, resulting in gross proceeds of $6 million.
The common stock purchase warrants have a five year-term and an exercise price of $2.08 per share. The offering may close on or about August 31, 2012. Catalyst expects to use the net proceeds from this offering to fund costs associated with the company's product development efforts and for general corporate purposes. Roth Capital Partners has acted as the exclusive placement agent for the transaction.
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