BioPharmX Corp fka BPMX

[kei]

suger, what do you think about this?
its really confusing to me.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126848259

Whos_Who Monday, 11/28/16 05:11:30 PM
Re: None
Post # of 382

BioPharmX Corporation Announces Closing of a $12.5 Million Unit Offering

MENLO PARK, Calif., November 28, 2016 -- BioPharmX Corporation (NYSE MKT: BPMX), a specialty pharmaceutical company developing products for the dermatology market, today announced the closing of its previously announced underwritten public offering of (i) an aggregate 31,489,429 Class A Units, each consisting of one share of the Company’s 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 Company’s 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.

The gross proceeds to BioPharmX from this offering were approximately $12.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding any proceeds that may be received upon exercise of the warrants. BioPharmX intends to use the net proceeds of the offering to fund further clinical development of BPX01, as well as the ongoing expenses of our operations during such development and for working capital and general corporate purposes.

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. Copies of the final prospectus related to the offering may be obtained for free by visiting the SEC's website at http://www.sec.gov, or alternatively from the offices of Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, or by telephone at [phone].