trending Market Intelligence /marketintelligence/en/news-insights/trending/yik0dqn7vvxbt7uawnilta2 content esgSubNav
In This List

Actinium Pharmaceuticals plans rights offering

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Actinium Pharmaceuticals plans rights offering

Actinium Pharmaceuticals Inc. plans to distribute rights to buy about $25 million of units through an offering.

The New York-based company, which develops cancer immunotherapies, proposed issuing nontransferable subscription rights to buy 35,714,285 units for 70 cents apiece.

Each unit will comprise 1 common share, 0.25 of a series A warrant and 0.75 of a series B warrant. The series A warrants have a 12-month term and an exercise price of 90 cents. The series B warrants have a 30-month term and an exercise price of $1.10.

Actinium Pharmaceuticals expects to grant investors who fully exercised their subscription rights an option to buy, on a pro rata basis, the units not taken up by other holders.

The subscription period will run from Feb. 15 to March 2.

The company plans to use proceeds to complete the phase 3 trial of its lead product candidate Iomab-B, which conditions the bone marrow of leukemia patients for a transplant. Proceeds will also fund Actinium Pharmaceuticals' AWE Technology Platform, research and development as well as general working capital needs.

Maxim Group LLC is acting as dealer-manager for the rights offering.