Cidara Therapeutics Announces Closing of Rights Offering

SAN DIEGO, Feb. 12, 2020 (GLOBE NEWSWIRE) — Cidara Therapeutics, Inc. (Nasdaq: CDTX) (“Cidara”) today announced the closing of its previously announced rights offering (the “Rights Offering”). At the closing, Cidara sold and issued an aggregate of 6,639,307 shares of its common stock (the “Common Stock”) and an aggregate of 531,288 shares of its Series X convertible preferred stock (“Series X Preferred Stock”), pursuant to the exercise of subscription rights in the Rights Offering from its existing holders of Common Stock, Series X Preferred Stock and Cidara’s warrants issued on May 21, 2018.  Of the total shares of Common Stock and Series X Preferred Stock sold and issued in the Rights Offering, BVF Partners L.P., a Cidara stockholder and warrant holder, purchased 587,244 shares of Common Stock and 531,288 shares of Series X Preferred Stock and Stonepine Capital, LP, a Cidara warrant holder, purchased 1,554,050 shares of Common Stock, pursuant to the exercise of the

Click to view original post