On October 25, 2019 Trovagene, Inc. (Nasdaq: TROV), a clinical-stage, Precision Cancer Medicine oncology therapeutics company developing drugs that target cell division (mitosis) for the treatment of various cancers including prostate, colorectal and leukemia, reported that it has entered into definitive agreements with institutional investors for the sale of 2,756,340 shares of common stock (or common stock equivalents), series G warrants to purchase up to 2,756,340 shares of common stock, and series H warrants to purchase up to 2,756,340 shares of common stock in a private placement at a price of $1.814 per share and associated warrants for gross proceeds of approximately $5.0 million (Press release, Trovagene, OCT 25, 2019, View Source [SID1234542539]). The transaction is anticipated to close on or about October 29, 2019, subject to customary closing conditions.

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H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

The series G warrants are exercisable immediately with a term of five and one-half years and an exercise price of $1.56 per share. The series H warrants are exercisable immediately with a term of 18 months and an exercise price of $1.56 per share.

Trovagene intends to use the net proceeds of the private placement to fund clinical development activities and for working capital and general corporate purposes. The Company has agreed to file a resale registration statement for the shares of common stock and the shares of common stock underlying the warrants issued in the offering within 10 days pursuant to a registration rights agreement.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Further information regarding the private placement can be found in the Current Report on Form 8-K that will be filed by the Company with the SEC.