Cempra has entered into a securities purchase agreement with a select group of new and existing institutional and accredited investors in connection with a private placement financing.Upon closing of the financing, Cempra will receive gross proceeds of approximately $25 million resulting from the sale of 3,864,461 shares of common stock at the purchase price of $6.50 per share. Jefferies & Company, Inc., Cowen and Company and Stifel Nicolaus Weisel served as placement agents for the financing.
Proceeds from the private placement are expected to be used for general corporate and working capital purposes, including the funding of clinical trials.
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