Catalyst Biosciences Inc. priced a securities offering to raise $18 million in gross proceeds.

The company is issuing class A units and class B units representing a total of 930,000 common shares, 13,350 preferred shares and warrants to purchase another 1.8 million stock of the company.

Class A units were priced at $5 apiece and comprised a common share and a warrant that can be exercised for half of a Catalyst stock at $5.50. Class B units were priced at $1,000 apiece and comprised 1 preferred share and a warrant to purchase 100 common shares at $5.50 per share.

Each preferred share is convertible into 200 common shares of Catalyst Biosciences.

Ladenburg Thalmann & Co. Inc. is the sole book-running manager for the offering which is expected to close by April 12.