Published on September 9, 2009 at 7:06 AM
Repros Therapeutics (Nasdaq:RPRX) today announced that Repros has entered into a definitive agreement with a single institutional investor to sell 1.5 million shares of its common stock at $0.65 per share for gross proceeds of approximately $1.0 million.
This financing will allow Repros to continue its business activity for the near term and provide it with more flexibility to continue exploring various strategic alternatives. The offering is expected to close on or about September 11, 2009, subject to the satisfaction of customary closing conditions.
The securities described above are being offered by Repros pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission (SEC). Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the SEC's website at www.sec.gov or directly from the Company by contacting Repros Therapeutics, 2408 Timberloch Place, B-7, The Woodlands, TX 77380.
http://www.reprosrx.com
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