Ohr Pharmaceutical, Inc. (OHRP) Announces $2.91M Financing through Exercised Series H Warrants
Ohr Pharmaceutical today announced that its existing shareholders have exercised 5,299,022 Series H warrants at $0.55 per warrant, resulting in net proceeds of $2.91 million. The company offered shareholders 0.6 replacement warrants for every Series H warrant exercised, resulting in the aggregate issuance of 3,179,410 warrants exercisable at $1.20 for a five-year period; 95 percent of the outstanding Series H warrants were exercised in this transaction. Ohr Pharmaceutical said it plans on using the proceeds for general corporate purposes, as well as to advance the clinical development of its compounds: Squalamine eye drops for the treatment of wet-AMD and neovascular…