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ADVENTRX Pharmaceuticals, Inc. Message Board

  • butchismo420@att.net butchismo420 Nov 10, 2011 9:19 PM Flag

    ADVENTRX Announces Public Offering of Stock

    SAN DIEGO, Nov. 10, 2011 /PRNewswire via COMTEX/ --

    ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that it intends, subject to market and other conditions, to offer and sell shares of its common stock and warrants to purchase its common stock in an underwritten public offering. The Company also intends to grant the underwriters a 45-day option to purchase up to an additional 15% of the shares and warrants sold in the public offering to cover over-allotments, if any.

    Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM: RODM), is acting as sole book-running manager for the offering.

    The Company intends to use the proceeds of the offering to fund continued development of its lead product candidates and for general corporate purposes.

    The securities described above are being offered by ADVENTRX pursuant to an effective shelf registration statement on Form S-3 (including a base prospectus) previously filed with the Securities and Exchange Commission (SEC). A prospectus supplement relating to the offering will be filed with the SEC. Before you invest, you should read the prospectus in that registration statement and the related prospectus supplements and the other documents that ADVENTRX has filed or will file with the SEC for more complete information about ADVENTRX and this offering.

    This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.


    The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: (212) 201-8064 or email: placements@rodm.com.

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    • Why would anyone buy anything from Rodman with respect to ANX? Rodman less than a year ago had a $16 per share projection for ANX, later revised, shockingly, down to $8.

      But still $16 or $8 is a far cry from the 50 cent range ANX seems headed down into due to the dilution Rodman is doing to ANX today in a private share floatation.

      Rodman has no credibility when it comes to projecting about ANX's future.

      It's a sick joke that ANX would go back to Rodman and get watered down again.

      ANX itself is the sick joke of a construct that sucks value out of common shareholders.

    • butchismo420@att.net butchismo420 Nov 10, 2011 9:34 PM Flag

      The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: (212) 201-8064 or email: placements@rodm.com.

      ===================================

      Rodman & Renshaw, LLC & ANX = Partners in Crime.

 

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