STOCK GOODIES PLAYS OF THE WEEK

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$IPCI Intellipharmaceutics Intl receives commitments from institutional investors to provide the co with ~$12 mln (5.95 )

Co announces that it has received purchase agreement commitments from institutional investors to provide the co with ~$12 mln in gross proceeds through the sale of its common stock and warrants. Among the investors in the transaction are H&Q Healthcare Investors (HQH) and H&Q Life Sciences Investors (HQL). The investors have agreed to purchase a total of ~4.8 mln units at a price of $2.50 per unit, each unit consisting of one share of common stock, a five-year warrant to purchase one-half of a share of common stock at an exercise price of $2.50 per whole share and a two-year warrant to purchase one-half of a share of common stock at an exercise price of $2.50 per whole share. Each warrant represents the right to purchase 50% of the aggregate amount of shares of common stock being sold by the co. The co intends to use the net proceeds to file additional Abbreviated New Drug Applications with FDA, to advance clinical trials for its abuse resistant Rexista technology and/or other NDA opportunities, to establish additional partnerships, and for working capital, research, product development and general corporate purposes.