Acer Therapeutics up on private placement at premium

Acer Therapeutics

30/11/2022 15:29

** Drug developer Acer Theṅrapeutics Inc  ACER.O  shares
rise ~10% to $1.3
    ** Co reports private placement of securities for gross
proceeds of $1.5 mln     
    ** ACER on Nov. 29 entered into a securities purchase
agreement for the sale and issuance of an aggregate of 1.2
million common shares 
    ** The private placement transaction at a price per share of
$1.22, represented a 5.2% premium to the $1.16 closing price of
the common stock on that day
    ** Co intends to use the proceeds for working capital and
general corporate purposes 
    ** ACER anticipates placement proceeds and existing cash, 
cash equivalents to fund its operating and capital requirements
through Q4 of 2022
    ** Including session gains, stock down ~43% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))