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ARTICLE | Financial News

MEI Pharma raises $75M in private placement

May 14, 2018 5:52 PM UTC

MEI Pharma Inc. (NASDAQ:MEIP) added $0.30 (13%) to $2.53 on Monday after it raised $75 million through the sale of 33 million units at $2.27 in a private placement led by Vivo Capital and CAM Capital. Also participating were New Enterprise Associates, Perceptive Advisors, the Biotechnology Value Fund (BVF), Boxer Capital, Amzak Health, and other new and existing investors.

The unit price is a 2% premium to MEI's Friday close of $2.23. Each unit comprises a share and a warrant to purchase 0.5 additional shares, with each whole warrant exercisable at $2.54...

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MEI Pharma Inc.