NetworkNewsBreaks – Delcath Systems, Inc. (DCTH) Completes $20M PIPE
Delcath Systems (OTC: DCTH) has completed a $20 million PIPE with certain accredited investors. According to the update, the placement consisted of a combined price of $1,000 per unit, each consisting of one preferred share initially convertible into 16,667 shares of common stock at an initial conversion price of $0.06 per share and a common stock purchase warrant. For five years from the date of the company’s anticipated reverse stock split, holders of each whole warrant are entitled to purchase one share of common stock at an initial exercise price of $0.06. ROTH Capital Partners acted as sole placement agent…
