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Soligenix closes $8M public offering

Soligenix, Inc. said July 2 that it closed a public offering of shares and warrants to raise about $8 million in gross proceeds.

The Princeton, N.J.-based biopharmaceutical company issued 7,766,990 common shares and warrants to buy 3,106,796 shares at a combined price of $1.03 per share and warrant. The warrants are exercisable immediately at $2.25 per share and will expire 42 months from the date of issuance.

The underwriters partially exercised the overallotment to buy additional warrants to purchase 466,019 common shares.

Alliance Global Partners acted as sole book-running manager for the offering.