Adial Pharmaceuticals Announces Exercise of Warrants for $3.5 Million Gross Proceeds
The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (No.
- The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (No.
- The gross proceeds to the Company from the exercise of the warrants are expected to be $3,530,500, prior to deducting placement agent fees and estimated offering expenses.
- In consideration for the immediate exercise of the warrants for cash and the payment of $0.125 per new warrant, the Company will issue new unregistered warrants to purchase up to 2,300,000 shares of common stock.
- The Company has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issuable upon exercise of the new warrants.