Therapix Biosciences Ltd ADR TRPXY

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[StuinSea]

https://seekingalpha.com/news/3446463-therapix-bio-18-percent-pricing-registered-direct-offering?dr=1#email_link

Therapix Bio down 18% on pricing registered direct offering

Mar. 28, 2019 9:07 AM ET |About: Therapix Biosciences Ltd. (TRPX)|By: Mamta Mayani, SA News Editor

Therapix Biosciences (NASDAQ:TRPX) has entered into definitive agreements with several institutional investors providing for the issuance of an aggregate of 642,853 ADS at a price of $3.50/ADS in a registered direct offering.

Additionally, in a concurrent private placement, the Company will issue warrants to purchase up to 482,139 ADSs. The warrants will have a term of 3 years, with an exercise price of $3.50/ADS.

Expected gross proceeds are ~$2.25M. Net proceeds will be used for general corporate, product development purposes and the repayment of a portion of outstanding debt.

Closing date is April 1.

Shares are down 18% premarket.

[Fundy13]

Another short term band aid, not what I wanted to see. If they were gong to do financing I thought it would be for enough to get them through a couple years of research.  This is just another 3-6 month fix.  Not a good deal for current shareholders. The last round of financing they did was very good terms, this sucks.