Proactive Investors - Run By Investors For Investors

Hemispherx Biopharma posts reminder of deadline for $8M rights issue

Ownership of Hemispherx stock must occur on February 12 to allow for participation in the $8 million rights offering
vials in a lab
Hemispherx’s flagship product is the Argentina-approved Ampligen, which treats chronic fatigue syndrome and cancerous tumors

Hemispherx Biopharma Inc (NYSEAmerican:HEB) on Tuesday issued a reminder to its stockholders that the record date of its proposed $8 million rights offering is Thursday, February 14.

To be a stockholder of record on the record date, ownership of Hemispherx stock must occur before the market closes on February 12 to account for settlement.

READ: Hemispherx Biopharma launches $8M rights issue to fund cancer drug trials

Under the terms of the rights offering, Hemispherx will distribute to holders of its stock as well as holders of certain options and warrants as of February 14 at no charge, one non-transferable subscription right for each share of stock held or deemed held on the record date.

Each right allows the shareholder to purchase one unit, at a subscription price of $1,000 per unit, consisting of one share of Series B Convertible Preferred stock with a face value of $1,000 (and immediately convertible into common stock at a conversion price of $0.25) and 4,000 five-year warrants with an exercise price of $0.25.

Subscription rights are non-transferable and may only be exercised during the subscription period of Friday, February 15, 2019, through Friday, March 1, 2019, unless extended by Hemispherx.

Hemispherx’s flagship products include the Argentina-approved Ampligen, which treats chronic fatigue syndrome and cancer, and the FDA-approved drug Alferon N Injection, a treatment for genital warts.

Hemispherx traded up 1% at US$0.24 in afternoon trade on Tuesday.

Contact Ellen Kelleher at [email protected]

 

View full HEB profile View Profile

Hemispherx Biopharma Inc Timeline

Related Articles

A double helix and a medical person
March 06 2019
Leronlimab, according to the company, is an antiviral agent candidate with fewer side effects, lower toxicity and less frequent doses than daily HIV therapies now in use
Scientist at work
May 28 2019
CaPre, a potent form of Omega-3, has been shown to reduce triglycerides, but also lower 'bad cholesterol' levels, and raise 'good' ones
cancerous cells
March 08 2019
A series of trials underway at major cancer research hospitals are evaluating the company's flagship cancer drug Ampligen
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use