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Dare Bioscience Prices $6 Million Registered Direct Offering; Shares Fall

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Dare Bioscience (DARE) said Friday it priced a registered direct offering of 4.4 million shares, or pre-funded warrants in lieu thereof, at $1.37 per share, with gross proceeds expected to be about $6 million.

Additionally, in a concurrent private placement, the company will issue Series A and Series B warrants to institutional investors to purchase up to 8.8 million additional shares in total, subject to stockholder approval.

The offering and concurrent private placement are expected to close on or about Monday.

Shares of Dare Bioscience were down nearly 36% in Friday afternoon trading.

Price: $0.88, Change: $-0.49, Percent Change: -35.62%

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Dare Bioscience Prices $6 Million Registered Direct Offering; Shares Fall | FINWIRES