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Relmada Therapeutics raises $3.3M in private placement

Relmada Therapeutics Inc. said it closed a private placement of its securities with gross proceeds of $3.3 million.

The company said it sold to certain investors 3,644,440 common shares for 90 cents per share and five-year warrants to purchase 2,368,887 common shares at an exercise price of $1.50 per share.

As part of the placement, $7.7 million worth of its outstanding 7% convertible promissory notes were converted into 10,731,676 common shares based on a conversion price of 72 cents per share, the company said.

Alexander Capital LP acted as exclusive placement agent with respect to the offering.

New York-based Relmada Therapeutics develops therapies to treat central nervous system diseases.