Pulmatrix (NSDQ:PULM) said today that it landed an agreement with several institutional investors to purchase $5.0 million of shares of common stock in a registered direct offering.
The Lexington, Mass.-based company agreed to sell 2 million shares of common stock at $2.50 apiece. The offering is expected to close on Feb. 2.
Pulmatrix said it anticipates that the offering will bring in $4.5 million in net proceeds, which it plans to use for general corporate purposes and debt payments.
Get the full story at our sister site, Drug Delivery Business News.
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