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RXi to Raise $7.3M in Stock, Warrant Offering

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RXi Pharmaceuticals said this week that it has priced an underwritten public offering of 6 million units of stock and warrants at $1.35 apiece. The company said it expects to net $7.3 million through the transaction.

Each unit consists of one share of common stock, a 13-month warrant to buy a half a share at $1.70, and a 15-month warrant to buy half a share at $1.87.

Proceeds of the offering, which is expected to close this week, will be used for general corporate purposes, RXi said.

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