Immune Pharmaceuticals Inc (fka IMNPQ)

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EpiCept to Raise $2 Million in Registered Direct Offering
Business WirePress Release: EpiCept Corporation – 6 hours ago

TARRYTOWN, N.Y.--(BUSINESS WIRE)--

Regulatory News:

EpiCept Corporation (Nasdaq OMX Stockholm Exchange and OTCQX: EPCT) announced today that it has entered into a definitive agreement with a single life science focused institutional investor for the purchase of 2,000 shares of its Series A 0% Convertible Preferred Stock at $1,000 per share, which are convertible into an aggregate of 10 million shares of its common stock, and five-year warrants to purchase up to 5 million shares of its common stock at an exercise price of $0.20 per share that are immediately exercisable. EpiCept will receive approximately $1.8 million in net proceeds from the offering. The offering is expected to close on or about February 13, 2012, subject to customary closing conditions. Net proceeds from the offering will be used to meet working capital needs and for general corporate purposes

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM - News), acted as the exclusive placement agent for the offering.

The proposed public offering is being made pursuant to an effective registration statement, and may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus supplement relating to the common stock and warrants can be obtained from Rodman & Renshaw LLC, 1251 Avenue of the Americas, 20th Floor, New York, NY 10020, or by calling 212-356-0549 or e-mailing [e-mail]. An electronic copy of the prospectus supplement will also be available on the website of the Securities and Exchange Commission (the “SEC”) at http://www.sec.gov. This press release is neither an offer to sell, nor a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.