1:37AM NuPathe prices $28 mln private placement; amends terms of loan facility (PATH) 4.34 : Co announces it has entered into agreements with existing and new investors for the sale of $28 mln of securities. The securities are being sold as units, with each unit consisting of 1/1,000th of a share of to-be designated Series A preferred stock and a warrant to purchase one share of the Company's common stock. The purchase price per unit is $2.00. The warrants will initially be exercisable at $2.00 per share and will expire five years from the date of issuance. In addition, co and its lenders have amended the terms of the co's outstanding term loan facility. The modification temporarily removes the $1 mln unrestricted cash covenant and provides the Company forbearance of principal for up to 60 days to fund operations while the co works to close the private placement.
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