WASHINGTON (dpa-AFX) - Palatin Technologies, Inc. (PTN) Friday announced that it has entered into agreements with a healthcare-focused institutional investor for the sale of 4.6 million shares at $1.00 each in a registered direct offering, raising approximately $4.7 million.
Concurrently, it will issue warrants for an equal number of shares, exercisable in six months at $1.00 per share for five and a half years. The offering is expected to close by February 10.
PTN is currently trading pre-market at $0.98 down 0.47 percent on the New York Stock Exchange.
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