Ruthigen Prices IPO At $7.25 Per Unit - Quick Facts

(RTTNews) - Ruthigen Inc. (RTGN), a biopharmaceutical company focused on the discovery, development and commercialization of pharmaceutical-grade hypochlorous acid, or HOCl, based therapeutics designed to prevent and treat infection in invasive applications, announced the pricing of initial public offering of 2.65 million units at $7.25 per unit.

The initial public offering reflects an increase in the originally anticipated number of units, with each unit consisting of one share of common stock and one Series A Warrant. Each Series A Warrant is exercisable for one share of common stock and one Series B Warrant to purchase one share of common stock.

The units will not be certificated and the shares of common stock and Series A Warrants may be transferred separately immediately upon issuance.

In addition, Ruthigen has granted the representative of the underwriters a 45-day option to purchase up to 397,500 additional shares of common stock, and/or 397,500 additional Series A Warrants, or any combination thereof. The shares of the Company's common stock are expected to begin trading on The NASDAQ Capital Market on Friday, March 21, 2014 under the trading symbol "RTGN." The offering is expected to close on March 26, 2014, subject to customary closing conditions.

The Series A Warrants issued in the initial public offering are immediately exercisable upon issuance at an initial exercise price of $7.25 per warrant. The Series A Warrants will expire on the second anniversary of the date of issuance. The Series B Warrants will be issued only upon exercise of the Series A Warrants and are immediately exercisable upon issuance at an initial exercise price of $9.0625 per warrant. The Series B Warrants will expire on the fifth anniversary of the date of issuance. The units, Series A Warrants and Series B Warrants will not be listed for trading on a securities exchange.