NetworkNewsBreaks – AzurRx BioPharma Inc. (NASDA
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Posted On: 10/28/2020 3:00:53 PM
NetworkNewsBreaks – AzurRx BioPharma Inc. (NASDAQ: AZRX) Secures Financing to Fund Phase 2 Clinical Trials and Phase 3 Preparations
AzurRx BioPharma (NASDAQ: AZRX), a clinical-stage biopharmaceutical company, in July entered into a convertible preferred stock and warrant securities purchase agreement with certain accredited and institutional investors relating to the private placement of certain shares of convertible preferred stock and warrants for cash and in exchange for certain outstanding promissory notes as described in a recent update. In addition, the company entered into an exchange addendum to the purchase agreement with certain investors, relating to the exchange, as consideration in the private placement, of approximately $6.9 million aggregate in principal amount, plus all accrued and unpaid interest thereon, of its outstanding senior convertible promissory notes, originally due in Sept. 2020 (the “exchange”). “We are excited to have attracted the support of both new and existing investors for this financing, which funds our two Phase 2 clinical trials and Phase 3 preparations. In addition, the promissory note exchange furthers strengthens our balance sheet by removing $6.9 million in near-term debt obligations,” AzurRx CEO James Sapirstein said in the news release. “We thank the team at Alexander Capital for their continued support of the company and their dedication to making these transactions a success.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
AzurRx BioPharma (NASDAQ: AZRX), a clinical-stage biopharmaceutical company, in July entered into a convertible preferred stock and warrant securities purchase agreement with certain accredited and institutional investors relating to the private placement of certain shares of convertible preferred stock and warrants for cash and in exchange for certain outstanding promissory notes as described in a recent update. In addition, the company entered into an exchange addendum to the purchase agreement with certain investors, relating to the exchange, as consideration in the private placement, of approximately $6.9 million aggregate in principal amount, plus all accrued and unpaid interest thereon, of its outstanding senior convertible promissory notes, originally due in Sept. 2020 (the “exchange”). “We are excited to have attracted the support of both new and existing investors for this financing, which funds our two Phase 2 clinical trials and Phase 3 preparations. In addition, the promissory note exchange furthers strengthens our balance sheet by removing $6.9 million in near-term debt obligations,” AzurRx CEO James Sapirstein said in the news release. “We thank the team at Alexander Capital for their continued support of the company and their dedication to making these transactions a success.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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