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EpiCept prices stock offering

June
24

EpiCept Corp., a pharmaceutical company at The Landmark in Eastview, said it will offer 8 million shares of its common stock to the public for 25 cents a share. The company will also offer five-year warrants to buy another 8 million shares at an exercise price of 39 cents a share. The company expects to make $1.9 million from the offering. It said it will use the money for working capital, general corporate purposes, and to pay fees owed to a secured lender. The price of its stock dropped by 10.5 cents a share today, closing at 28.5 cents.

This entry was posted on Tuesday, June 24th, 2008 at 4:51 pm by Jerry Gleeson.
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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