Finance

Company announces $7.29 million private placement with institutional investors

Published in Anti-Infectives Week, April 12th, 2004

MacroChem Corp. (MCHM) announced that it has raised approximately $7.29 million in gross proceeds from a private placement of its securities to institutional investors.

In this private placement, MacroChem issued 5,402,000 shares of common stock, at a per share purchase price of $1.35. The investors also received 5-year warrants to purchase 1,080,400 shares of the company's common stock at an exercise price of $2.09 per share. The company has agreed to file a registration statement on Form S-3 covering the resale of the common stock sold and the shares issuable upon exercise of the warrants.

JMP Securities, LLC, a San Francisco, California-based...

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Source: Anti-Infectives Week (2004-04-12)

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