Published on February 6, 2010 at 5:01 AM
EpiCept Corporation (Nasdaq and Nasdaq OMX Stockholm: EPCT) announced
today that it has established an at-the-market program through which it
may sell, from time to time and at its sole discretion, shares of its
common stock having an aggregate offering price of up to $15 million.
Maxim Group LLC is acting as sales agent on the program.
Sales of EpiCept shares under the program, if any, may be made by means
of ordinary brokers’ transactions on The Nasdaq Capital Market or, to
the extent allowable by law, the Nasdaq OMX Stockholm Exchange, at
market prices. Additionally, under the terms of the sales agreement, the
Company may also sell shares of its common stock through the sales
agent, on the Nasdaq Capital Market or, to the extent allowable by law,
the Nasdaq OMX Stockholm Exchange, or otherwise, at negotiated prices or
at prices related to the prevailing market price. As sales agent, Maxim
will not engage in any transactions that stabilize the Company’s common
stock.
The Company intends to use any net proceeds it may receive from the
offering to meet working capital needs and repay indebtedness, as well
as for general corporate purposes.
SOURCE EpiCept Corporation