India, Sept. 2 -- vTv Therapeutics Inc. (VTVT) Tuesday said it has entered into an $80 million private placement in public equity (PIPE) financing agreement with leading healthcare institutional investors and the T1D Fund.
As per the agreement, the company is selling to the investors 682,018 of its Class A shares and pre-funded warrants to purchase 4.56 million Class A shares, with accompanying warrants to purchase 5.24 million Class A stock. The purchase price for Class A Stock and an accompanying warrant is $15.265 and that of one pre-funded warrant and an accompanying warrant is $15.255. The exercise price of the accompanying warrants is $22.71 per share.
The PIPE financing is expected to close on or around September 3.
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