SARASOTA, Fla., June 17, 2015 /PRNewswire/ -- Rock Creek
Pharmaceuticals, Inc. (NASDAQ: RCPI) (Rock Creek), a drug
development company focused on chronic inflammatory disorders,
announced today that it has entered into definitive agreements with
institutional investors to raise approximately $3.7 million in a registered direct offering of
1,644,500 shares of common stock and warrants to purchase up to
1,223,375 shares of common stock. The shares and warrants
will be sold in units, each of which is comprised of one share and
0.75 warrants to purchase one share of common stock. The
purchase price per unit in the offering will be $2.25. The warrants will be exercisable six
months following the date of issuance and will expire on the fifth
anniversary of the initial date that the warrants become
exercisable. The warrants will have an exercise price of
$2.83. The offering is expected
to close on or about June 19, 2015,
subject to customary closing conditions.
Maxim Group LLC is acting as the sole placement agent for the
offering.
Rock Creek intends to use the net proceeds from the offering for
clinical development activities, working capital, and general
corporate purposes.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form S-3
(Registration No. 333-200964), which was declared effective on
February 6, 2015 by the Securities
and Exchange Commission (SEC). The securities are being
offered only by means of a prospectus, including a prospectus
supplement and accompanying base prospectus, forming a part of the
effective registration statement. A prospectus supplement and
accompanying base prospectus relating to the offering of the shares
will be filed with the SEC and will be available on the SEC's
website at http://www.sec.gov. Copies of the final prospectus
supplement and accompanying base prospectus may be obtained, when
available, by contacting Maxim Group LLC, 405 Lexington Avenue,
New York, New York 10174, at (212)
895-3745.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Rock Creek Pharmaceuticals, Inc.:
Rock Creek Pharmaceuticals, Inc. is an emerging drug development
company focused on the discovery, development and commercialization
of new drugs, formulations and compounds that provide therapies for
chronic inflammatory disease, neurologic disorders and behavioral
health. For more information, visit:
http://www.rockcreekpharmaceuticals.com
Cautionary Note Regarding Forward-Looking Statements: This
press release contains forward-looking information, including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of Rock Creek
Pharmaceuticals, Inc., its directors or its officers with respect
to the contents of this press release. The words
"may," "would," "will," "expect,"
"estimate," "anticipate," "believe,"
"intend" and similar expressions and variations thereof are
intended to identify forward-looking statements. We cannot
guarantee future results, levels of activity or performance. You
should not place undue reliance on these forward-looking
statements, which speak only as of the date that they were made.
These cautionary statements should be considered with any written
or oral forward-looking statements that we may issue in the future.
Except as required by applicable law, including the securities laws
of the United States, we do not
intend to update any of the forward-looking statements to conform
these statements to reflect actual results, later events or
circumstances, or to reflect the occurrence of unanticipated
events. You should carefully review and consider the various
disclosures made by us in our annual report on Form 10-K for the
fiscal year ended December 31, 2014,
filed on March 15, 2015, including
the section entitled "Risk Factors," and our other
reports filed with the U.S. Securities and Exchange Commission
which attempt to advise interested parties of the risks and factors
that may affect our business, financial condition, results of
operation and cash flows. If one or more of these risks or
uncertainties materialize, or if the underlying assumptions prove
incorrect, our actual results may vary materially from those
expected or projected.
CONTACT:
Ted Jenkins
Vice President, Corporate Strategy and Development
Rock Creek Pharmaceuticals
2040 Whitfield Avenue, Suite 300
Sarasota, FL 34243
Direct: 941-251-0488
tjenkins@rockcreekpharmaceuticals.com
Stephanie Carrington
Investors
Integrated Corporate Relations, Inc. (ICR): Redefining Strategic
Communications
685 Third Avenue, 2nd Floor,
New York, NY 10017
(646) 277-1282
stephanie.carrington@icrinc.com
Logo - http://photos.prnewswire.com/prnh/20150617/223737LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/rock-creek-pharmaceuticals-announces-37-million-registered-direct-offering-300100606.html
SOURCE Rock Creek Pharmaceuticals, Inc.