ContraVir Pharmaceuticals Informs Stockholders of Key Dates and Terms Related to Announced Rights Offering
Under the proposed rights offering, ContraVir will distribute to its holders of common stock and to certain warrant holders, at no charge, one non-transferable subscription right for each share of common stock held or deemed held on the record date. Each right will entitle the holder to purchase one unit, at a subscription price of
The subscription rights are non-transferable and may only be exercised during the anticipated subscription period of
The expected calendar for the rights offering is as follows:
Tuesday, June 12, 2018: Ownership Day — in order to be considered a stockholder of record on Thursday, June 14, 2018, shares should be acquired by this date. Thursday, June 14, 2018: Record Date Friday, June 15, 2018: Distribution Date; Subscription Period Begins Thursday, June 28, 2018: Subscription Period Ends 5:00 PM ET, unless the Company extends the Subscription Period
Holders who exercise their subscription rights in full will be entitled, if available, to subscribe for additional units that are not purchased by other shareholders, on a pro rata basis and subject to ownership limitations.
ContraVir has engaged
A registration statement relating to these securities has been filed with the
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ContraVir is a biopharmaceutical company focused on the development and commercialization of targeted antiviral therapies with a specific focus on developing a potentially curative therapy for hepatitis B virus (HBV). The company is developing two novel anti-HBV compounds with complementary mechanisms of action. TXL™, a nucleoside analog lipid prodrug of tenofovir (TFV), is designed to deliver higher hepatic intracellular concentrations of the active tenofovir species (tenofovir diphosphate) while reducing concentrations of tenofovir outside the liver, causing less off-target toxicities and side-effects. CRV431, the other anti-HBV compound, is a next-generation cyclophilin inhibitor with a novel structure that increases its potency and selective index against HBV. In vitro and in vivo studies have thus far demonstrated that CRV431 reduces HBV DNA and other viral proteins, including surface antigen (HBsAg). For more information visit www.contravir.com.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimated,” and “intend,” among others. These forward-looking statements are based on ContraVir’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties with respect to lengthy and expensive clinical trials, that results of earlier studies and trials may not be predictive of future trial results; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain
For further information, please contact:
Director of Investor Relations
firstname.lastname@example.org; (732) 902-4028
Source: ContraVir Pharmaceuticals Inc.