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Regulus Therapeutics Raises $15M Private Placement Equity

Regulus Therapeutics Raises $15M Private Placement Equity

San Diego-based biopharma company Regulus Therapeutics has entered into a securities purchase agreement in connection with a private placement to certain institutional and other accredited investors.

The financing was led by the Federated Hermes Kaufmann Funds and New Enterprise Associates, with participation from additional existing shareholders. Upon closing, the company expects to receive gross proceeds of approximately $15 million.

Investors will purchase 2,615,536 shares of the company’s stock at $0.9001 per share. Certain investors have also agreed to purchase, in lieu of shares of stock, an aggregate of 140,827 shares of newly designated, non-voting Class A-5 convertible preferred stock at $90.01 per share. Each share of non-voting Class A–5 convertible preferred stock will be convertible into 100 shares of common stock.

SVB Securities is acting as the lead placement agent for the financing. H.C. Wainwright & Co. is acting as a co-placement agent for the financing.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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