Marina Biotech said this week that it has priced an underwritten public offering of 6.375 million units of stock and warrants at $0.80 each, for total gross proceeds of $5.1 million.

Each unit, Marina said, consists of one share of common stock and 0.1746 of a warrant to buy one share of common stock. The warrants are exercisable immediately and have a seven-year term.

The offering is expected to close mid-February, the company added.

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