Agenus announced that it has received commitments from institutional investors to purchase an aggregate of approximately $6.5M of its common stock at the market. Agenus entered into a definitive purchase agreement with these investors pursuant to which it agreed to sell an aggregate of about 2.17M shares of its common stock and warrants to purchase up to approximately 650K additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.3 of a share of common stock, will be sold for a purchase price of $3.00. The warrants to purchase additional shares will be exercisable at a price of $3.75 per share beginning six months following issuance and will expire five years from the date on which the warrants are initially exercisable. The closing of the offering is expected to take place on or about September 23. H.C. Wainwright & Co. acted as exclusive placement agent in connection with the offering.
Wall Street needs to be genuinely worried about what is going on in Washington, President Barack Obama told CNBC …