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Intellipharmaceutics closes $4M offering

IntelliPharmaCeutics International Inc. closed a direct offering of 3,636,364 shares to raise $4 million, which will be used for general corporate purposes.

The shares came bundled with warrants to purchase up to an additional 1,818,182 stock at $1.25 apiece.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.