Ampio Pharma: Plunges on stock offering

Ampio Pharmaceuticals

09/08/2018 15:46

** Drugmaker's shares  AMPE.N  tumble 38 pct to $0.38
    ** Company to sell 20 mln common shares with an accompanying
warrant at $0.40 a piece, a 34 pct discount to stock's last
close
    ** Offering represents 23 pct of AMPE outstanding shares or
a quarter of the free float
    ** Expects to raise gross proceeds of $8 mln from
offering urn:newsml:reuters.com:*:nPn43WkPya
    ** The 5-year warrants are exercisable at a price of
$0.40/shr, 6 months after issuance
    ** Ampio intends to use proceeds to fund preclinical
development or a clinical trial and as working capital 
    ** Canaccord Genuity is acting as sole book-runner
    ** Stock down 90 pct this year

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))