Delcath prices $7m follow-on offering

Delcath (NSDQ:DCTH) said today it priced a follow-on offering of 9.3 million units of stock it plans to float at 75¢ per share, slated to bring in $7 million for the company.

Each unit in the offering consists of a share of common stock, 0.75 of a Series A warrant to purchase common stock at 87¢, a Series B warrant to purchase common stock and 0.75 of a Series A warrant to purchase common stock at 75¢, according to Delcath.

Roth Capital Partners will be the sole manager for the offering, Delcath said.

Net proceeds are expected to be approximately $6.2 million for the New York, N.Y.-based company. The offering is slated to close July 21.

Earlier this month, Delcath agreed to pay $8.5 million to settle a clutch of lawsuits filed by shareholders over losses related to its development of the drug-device combination Melblez kit. The lawsuits sought compensation for losses stemming from 3 separate incidents the plaintiffs claim caused share prices to drop significantly.

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