"We are offering 5,104,429 Class A Units with each Class A Unit at a public offering price of $0.35 per Class A Unit consisting of one share of our common stock, one Series I Warrant to purchase one share of our common stock and one Series II Warrant to purchase one share of our common stock. The Class A Units will not be certificated and the share of common stock, the Series I Warrant and Series II Warrant comprising such unit are immediately separable and will be issued separately in this offering.
We are also offering to certain purchasers whose purchase of Class A Units in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering, the opportunity to purchase, in lieu of Class A Units that would result in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%) or otherwise at such purchaser’s election, 6,324,143 Class B Units, with each Class B Unit consisting of one pre-funded warrant to purchase one share of our common stock, or a pre-funded warrant, one Series I Warrant to purchase one share of our common stock and one Series II Warrant to purchase one share of our common stock. The purchase price of each Class B Unit will be equal to the price at which a Class A Unit is sold to the public in this offering, minus $0.001, and the exercise price of each pre-funded warrant will be $0.001 per share. The Class B Units will not be certificated and the pre-funded warrant, the Series I Warrant and Series II Warrant comprising such unit are immediately separable and will be issued separately in this offering. Each purchase of Class B Units in this offering will reduce the number of Class A Units in this offering on a one-for-one basis. Therefore the number of Series I Warrants and Series II Warrants sold in this offering will not change as a result of a change in the mix of the Class A Units sold and Class B Units Sold. The pre-funded warrants will be immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full.
Each Series I Warrant will have an exercise price of $0.35 per share of common stock, will be exercisable upon issuance and will expire eighteen months from the date of issuance. Each Series II Warrant will have an exercise price of $0.35 per share of common stock, will be exercisable upon issuance and will expire five years from the date of issuance.
Our common stock is listed on the Nasdaq Capital Market under the symbol “DFFN.” On November 12, 2019, the reported closing price per share of our common stock was $0.55. There is no established public trading market for the pre-funded warrants, the Series I Warrants, the Series II Warrants and the Placement Agent’s Warrants and we do not expect a market to develop. Without an active trading market, the liquidity of the warrants will be limited. In addition, we do not intend to list the pre-funded warrants, the Series I Warrants, the Series II Warrants or the Placement Agent’s Warrants on the Nasdaq Capital Market, any other national securities exchange or any other trading system."
News 
Market Data 
Discover 
