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Hemispherx Biopharma to raise $1M in registered direct offering

Hemispherx Biopharma Inc. is planning to raise about $1 million in a registered direct offering of common stock to institutional investors.

Hemispherx will issue registered shares at 55 cents per share.

Concurrently, for each share purchased by an investor, the investor will also receive an unregistered warrant to purchase 0.75 of a share of common stock. The warrants have an exercise price of 75 cents per share, will be exercisable six months after issuance, and will expire five years from the exercise date.

Hemispherx plans to use net proceeds for technology transfer opportunities, Ampligen manufacturing expenses and for other working capital and general corporate purposes.

Rodman & Renshaw, a unit of H.C. Wainwright & Co. LLC, is acting as the exclusive placement agent in connection with the offering.