Can Fite BioPharma Ltd (CANF)

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Can-Fite BioPharma Announces $9 Million Registered Direct Offering

PETACH TIKVA, Israel, Sept. 19, 2015 /PRNewswire/ -- Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address cancer and inflammatory diseases, today announced that it has entered into definitive agreements with institutional investors to receive gross proceeds of $9 million.

In connection with the offering, the Company will issue 2,068,966 registered American Depository Shares (ADSs) of Can-Fite at a purchase price of $4.35 per ADS in a registered direct offering. Additionally, for each ADS purchased by investors, the investors will receive an unregistered warrant to purchase one-half of an ADS. The warrants have an exercise price of $5.25 per ADS, shall be exercisable six months following the issuance date and will expire five and one-half years from the issuance date. The closing of the offering is expected to take place on or about September 23, 2015, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. acted as the exclusive placement agent in connection with this offering.

The ADSs described above (but not the warrants or the ADSs underlying the warrants) are being offered pursuant to a shelf registration statement (File No. 333-199033) which became effective on October 21, 2014. Such ADSs may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.