Can-Fite BioPharma (CANF) announced that it has entered into definitive agreements for the purchase and sale of 2.5M of the company’s American Depositary Shares at a purchase price of $1.20 per ADS, in a registered direct offering. H.C. Wainwright is acting as the exclusive placement agent for the offering. The gross proceeds from the, before deducting the placement agent’s fees and other offering expenses payable by the company, are expected to be $3.0M. Can-Fite intends to use the net proceeds for funding research and development and clinical trials and for other working capital and general corporate purposes.
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