NetworkNewsBreaks – Genprex, Inc. (NASDAQ: GNPX)

NetworkNewsBreaks – Genprex, Inc. (NASDAQ: GNPX) Announces $1.26M Registered Direct Offering

Genprex (NASDAQ: GNPX), a clinical-stage gene therapy company, on Wednesday announced a registered direct offering of 3,167,986 shares of its common stock at a price of $0.40 each, for gross proceeds of about $1.26 million prior to deduction of commissions and offering expenses. In a concurrent private placement, Genprex agreed to issue unregistered warrants to purchase up to 3,167,986 shares to the investors in the registered direct offering. The warrants, which have an exercise price of $0.46 per share, will be exercisable six months from the issuance date and will expire after five years. The warrants will be exercisable for 100% of shares purchased by each investor in the registered direct offering. Additionally, Genprex agreed to decrease the exercise price of 2,283,740 warrants held by the purchasers in the registered direct offering to $0.46, which will be exercisable six months from the closing of the offering and the expiration date will be extended to January 27, 2024. Closing is anticipated to take place on or around November 25, 2019, subject to the completion of customary closing conditions. Genprex plans to use the net proceeds of the offering for working capital and general corporate purposes.

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