Pulmatrix seeks to raise $5m in direct offering

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.

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