Apricus raises $17.1M in follow-on

Apricus Biosciences Inc. (NASDAQ:APRI) raised $17.1 million through the sale of 6 million shares at $2.85 in a follow-on underwritten by Lazard; Roth Capital Partners; and Cantor Fitzgerald. The underwriters also received five-year warrants to purchase up to 3 million shares at $3.40 per share. Apricus proposed the follow-on late Wednesday, when its share price was $3.30. On Thursday, the company was down $0.65 (20%) to $2.65. ...