Tonix Pharma Prices Public Offering Of 2.90 Mln Shares At $15 Per Share

(RTTNews) - Tonix Pharmaceuticals Holding Corp. (TNXP) announced the pricing of an underwritten public offering of 2.90 million shares of its common stock at a price of $15.00 per share.

The company has also granted to the underwriters a 45-day option to acquire an additional 434,782 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $40.7 million, assuming no exercise of the overallotment option. The offering is expected to close on January 29, 2014, subject to customary closing conditions.

Roth Capital Partners is acting as the sole book-running manager for the offering. National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc. (NHLD.OB) is acting as co-manager in this offering.

Tonix expects to use the net proceeds of the offering to support the continued development of TNX-102 SL for the treatment of fibromyalgia, to initiate clinical trials of TNX-102 SL for the treatment of post-traumatic stress disorder, and to initiate clinical trials of TNX-201 for tension-type headache. Any remaining net proceeds will be used for the advancement of Tonix's other development programs, for further product development, and for general corporate purposes.