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news.EpiCept has priced the public offering of two million shares of its common stock at $0.25 per share and five-year warrants to purchase up to two million shares of common stock at an exercise price of $0.39 per share.
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EpiCept will receive approximately $0.5 million in net proceeds from the offering. Rodman & Renshaw, a subsidiary of Rodman & Renshaw Capital Group, is acting as the exclusive placement agent for the offering.
EpiCept intends to use the net proceeds to meet its working capital needs and for general corporate purposes.