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.
To view the full press release, visit http://ibn.fm/x6Wr0
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company
developing potentially life-changing technologies for cancer patients based
upon a unique proprietary technology platform. Genprex’s platform technologies
are designed to administer cancer-fighting genes by encapsulating them into
nanoscale hollow spheres called nanovesicles, which are then administered
intravenously and taken up by tumor cells where they express proteins that are
missing or found in low quantities. The company’s lead product candidate,
Oncoprex(TM) immunogene therapy for non-small cell lung cancer (“NSCLC”), has a
multimodal mechanism of action whereby it interrupts cell signaling pathways
that cause replication and proliferation of cancer cells, re-establishes
pathways for apoptosis, or programmed cell death, in cancer cells, and
modulates the immune response against cancer cells. Oncoprex has also been
shown to block mechanisms that create drug resistance. For more information,
visit the company’s website at www.Genprex.com.
NOTE TO INVESTORS: The latest news and updates
relating to GNPX are available in the company’s newsroom at http://ibn.fm/GNPX
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