RenovoRx (RNXT) has released an update to notify the public and investors about an entry into a material definitive agreement.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
RenovoRX, Inc. completed a private placement offering on January 26, 2024, raising $6,111,695 from 92 accredited investors. The company met the minimum subscription requirement of $5 million and sold over 6 million shares and warrants at a discounted price of $0.99 per share, with an exercise price equal for both shares and warrants. Company-affiliated investors paid $1.22 per share and warrant. This offering was not registered under the Securities Act of 1933 but relied on exemptions provided by Section 4(a)(2) and Rule 506(c) of Regulation D. RenovoRX committed to filing a registration statement for the resale of the shares within 30 days post-offering. Additionally, RenovoRX hired Paulson Investment Company, LLC as a placement agent, paying them commissions and issuing warrants for their services.
For further insights into RNXT stock, check out TipRanks’ Stock Analysis page.
