NanoViricides raises $20 million in direct offering

NanoViricides Inc. (NYSE-M:NNVC) raised about $20 million through the sale of about 3.8 million units at $5.25 in a registered direct offering to institutional and existing investors. Each unit comprises a share and a five-year warrant to purchase 0.65 shares, with each whole warrant exercisable at $6.05. Chardan Capital Markets and Midtown Partners were placement agents. NanoViricides was off $1.06 (18%) to $4.99 on Tuesday. ...