VistaGen Therapeutics Inc. raised about $15 million in gross proceeds from its public offering of 10 million common shares and warrants to buy up to 10 million shares at $1.50 apiece.
Each common share was sold together with a warrant to buy 1 common share. The warrants are exercisable for $1.50 apiece within a five-year term.
VistaGen plans to use the net proceeds for research and development as well as for ordinary course working capital needs and other general corporate purposes.
Oppenheimer & Co. Inc. acted as a sole book-running manager, while Chardan acted as lead manager for the offering.
