Opexa Therapeutics, Inc. OPXA a company developing Tcelna™
(imilecleucel-T), a novel T-cell therapy for multiple sclerosis (MS), today
announced it has priced an offering of shares of its common stock and warrants
to purchase common stock in a private registered offering of 1,083,334 units
at a price of $3.00 per unit, for gross proceeds of $3,250,000. Each unit
consists of one share of common stock and a warrant to purchase one-half
(0.50) of a share of common stock. The shares of common stock and warrants are
immediately separable and will be issued separately such that no units will be
issued. The warrants are exercisable immediately upon issuance, have a
four-year term and an exercise price of $3.00 per share. The offering is
expected to close on or about February 11, 2013, subject to customary closing
conditions. All of the shares in the offering are to be sold by Opexa.
The net proceeds from these financing arrangements will be used for working
capital and general corporate purposes, including the continued conduct of the
Abili-T clinical study, Opexa's ongoing Phase 2b clinical trial of Tcelna in
Secondary Progressive MS patients.
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