Xenetic: Drops on discounted $6 mln share placement deal
10/12/2020 10:40
** Shares of biopharma co XBIO.O drop 12.62% to $2.77
premarket, among top losers on Nasdaq
** XBIO enters into a securities purchase agreement with
several institutional and accredited investors for sale of 2.44
mln shares at $2.45 per share, representing a 22.7% discount to
Wednesday's close urn:newsml:reuters.com:*:nACSH7bSRa
** Gross proceeds from the offering are expected to be about
$6.0 million
** The registered direct offering should close on or about
Dec. 14, 2020
** H.C. Wainwright & Co. is acting as the exclusive
placement agent for the offering
** Up to Wednesday's close, stock had gained ~120% this year
(Reporting by Rithika Krishna)
((Rithika.Krishna@thomsonreuters.com;))