Delcath Systems (NSDQ:DCTH) said yesterday it closed a previously announced rights offering bringing in approximately $8.1 million.
The New York-based company said that it received approximately 4.3 million basic subscriptions and 418,207 oversubscriptions for a total of approximately 4.7 million subscriptions.
Each subscription equates to a single share of Delcath’s common stock, the company said, with gross proceeds expected to be $8.1 million and net proceeds expected to be approximately $7.3 million.
DelCath said that as of the closing date of today, it will have approximately 5.7 million of its shares issued and outstanding, according to an SEC filing.
In April, DelCath proposed offering up to $5 million in units and $5 million in pre-funded units to fund the company’s clinical and commercial operations.
