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Pulmatrix to raise $5M in direct offering

Pulmatrix Inc. is issuing $5 million worth of stocks in a registered direct offering priced at $2.50 per share.

The company will issue 2 million shares to institutional investors with Rodman & Renshaw acting as the exclusive placement agent.

The offering, expected to close Feb. 2, will raise funds for general corporate purposes and debt repayment, Pulmatrix said.