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Citius to raise $6M from share offering

Citius Pharmaceuticals, Inc. is looking to raise $6 million from the sale of 1,280,360 common shares at a price of $4.6925 apiece.

The specialty pharmaceutical company will also issue warrants to purchase up to an additional 640,180 shares of the company at $4.63 apiece.

Citius expects to close the offering by Dec. 19.

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

The company will use the net proceeds for general corporate purposes.