BIOPHARMX CORPORATION (NYSEMKT:BPMX) Files An 8-K Other Events
Item 8.01. Other Information
On November 28, 2016, BioPharmX Corporation (the Company) closed
its previously announced underwritten public offering of (i) an
aggregate 31,489,429 Class A Units, each consisting of one share
of the Companys common stock and one seven-year warrant to
purchase 0.75 of a share of common stock (which equates to 75%
warrant coverage) at an exercise price of $0.35 per share, at a
public offering price of $0.35 per unit and (ii) 1,515 Class B
Units, each consisting of one share of the Companys Series A
convertible preferred stock with a stated value of $1,000 per
share and convertible into shares of common stock at the public
offering price of the Class A Units, together with the equivalent
number of warrants (75% warrant coverage) to purchase shares of
common stock at an exercise price of $0.35 per share as would
have been issued in connection with a purchase of $1,000 of Class
A Units based at the public offering price. Each share of Series
A preferred stock is convertible into approximately 2,857 shares
of common stock.
Roth Capital Partners, LLC acted as sole book-running manager for
the offering.
The Company granted the underwriters a 30-day option to purchase
up to 4,723,414 additional shares of common stock and/or
additional warrants to purchase up to 3,542,560 shares of common
stock to cover over-allotments, if any. The underwriters
exercised the over-allotment option to purchase additional
warrants to purchase 3,542,560 shares of common stock.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
(SEC) on November 21, 2016.The offering is being made only by
means of a prospectus forming part of the effective registration
statement.
Attached as Exhibit 99.1 and incorporated herein by reference is
a copy of the press release issued by the Company on November 28,
2016.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
|
Exhibit No. |
Description | |
| 99.1 | Press release dated November 28, 2016. |
About BIOPHARMX CORPORATION (NYSEMKT:BPMX)
BioPharmX Corporation is a specialty pharmaceutical company. The Company is focused on utilizing its drug delivery technologies to develop and commercialize prescription and over-the-counter (OTC) products that address markets in women’s health and dermatology. Its portfolio of product candidates includes two clinical stage product candidates: BPX01, which is a topical antibiotic for the treatment of acne based on a formulation of minocycline, and BPX03, which is a molecular iodine (I2) tablet for the treatment of benign breast pain associated with fibrocystic breast condition (FBC) and cyclic mastalgia. Its VI2OLET is an OTC molecular iodine dietary supplement that addresses cyclic breast discomfort and is clinically demonstrated to alleviate the symptoms associated with FBC, including tenderness, aches and swelling. It is developing BPX02, which is an injectable utilizing biologic materials for aesthetic dermatology applications. BIOPHARMX CORPORATION (NYSEMKT:BPMX) Recent Trading Information
BIOPHARMX CORPORATION (NYSEMKT:BPMX) closed its last trading session up +0.001 at 0.271 with 276,439 shares trading hands.
