CytRx Corporation CYTR, a biopharmaceutical research and development
company specializing in oncology, announced today the closing of its
previously announced underwritten public offering of 9,200,000 shares of
common stock, including the exercise of the over-allotment option by the
underwriters covering 1,200,000 shares, at a public offering price of $2.50
per share. The gross proceeds to CytRx from the offering, including the
exercise of the over-allotment option, were $23 million, before deducting
underwriting discounts and commissions and other offering expenses payable by
CytRx.
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