Friday, Delcath Systems, Inc. (DCTH) announced an agreement with accredited investors, including existing investors, Delcath Executives, and members of its Board, for a private placement transaction. Delcath will sell 876,627 shares of its common stock at $3.72 per share and, to certain investors, 1,008,102 pre-funded warrants at $3.71 per warrant.
The pre-funded warrants have an exercise price of $0.01 per share and can be exercised until fully utilized.
The company anticipates receiving around $7 million in gross proceeds from the Private Placement.
The net proceeds will be allocated towards working capital and general corporate needs.
The Private Placement is scheduled to conclude on March 19, 2024, pending standard closing conditions.
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