On Friday, Delcath Systems, Inc. (DCTH) disclosed an accord with certified investors that include current investors, Delcath executives, and board members for a confidential transaction. Delcath is set to sell 876,627 of its common stock shares at a price of $3.72 per share. Additionally, a batch of pre-funded warrants, amounting to 1,008,102, will be sold to specific investors at $3.71 per warrant.
These pre-funded warrants are priced at $0.01 per share and can be exploited until fully consumed. Delcath foresees a gross income of around $7 million from the private sale in question.
The net income will be directed towards working capital and general corporate necessities. The private sale is projected to finalize on March 19, 2024, provided all standard finalization conditions are met.
