RenovoRx Announces Pricing Of Public Offering Of About 11.52 Million Shares At $1.05/shr

(RTTNews) - RenovoRx Inc. (RNXT) announced the pricing of a firm commitment, underwritten public offering of about 11.52 million shares of its common stock at a price to the public of $1.05 per share.

The company expects the gross proceeds from the offering to be about $12.1 million before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on February 10, 2025.

RenovoRx plans to use the net proceeds received from the offering for working capital and general corporate purposes, including continued progression of its Phase III TIGeR-PaC study and the continued development and execution of commercial sales and marketing activities for RenovoCath as a standalone device.