Aridis Pharmaceuticals announces $2.28M registered direct offering

Aridis Pharmaceuticals announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 6M shares of the company’s common stock at a purchase price of 38c per share in a registered direct offering. The closing of the offering is expected to occur on or about March 16, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the company from the offering are expected to be $2.28M, before deducting the placement agent’s fees and other offering expenses payable by the company. Aridis Pharmaceuticals currently intends to use the net proceeds from the offering for working capital and general corporate purposes.