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AIT Therapeutics completes $9.8M private placement

AIT Therapeutics Inc. completed a private placement with a select group of investors resulting in gross proceeds of about $9.8 million.

The private placement comprised of 2,299,802 tranche A warrants to buy 1 common share at an exercise price of $4.25 per share, exercisable within three days from warrant issuance and an equal number of tranche B warrants to buy 1 common share at an exercise price of $4.25 per share, exercisable within three years from warrant issuance.

The company plans to use the proceeds primarily to support the ongoing operations related to its three inhaled nitric oxide programs: persistent pulmonary hypertension of the newborn, bronchiolitis and nontuberculous mycobacteria abscessus.

Laidlaw & Co. (UK) Ltd. acted as lead placement agent for the transaction, and Brookline Capital, a division of CIM Securities, acted as co-placement agent.