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news.EpiCept has priced its public offering of 3.33 million shares of its common stock at $1.50 per share and five-year warrants to purchase up to approximately 1.66 million shares of common stock at an exercise price of $1.50 per share.
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EpiCept will receive approximately $4.7 million in net proceeds from the offering. Rodman & Renshaw, a subsidiary of Rodman & Renshaw Capital Group acted as placement agent.
EpiCept intends to use the net proceeds for general corporate purposes.