Hemispherx Biopharma Agress To Sell Up To $75M Of Common Stock

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We have entered into a sales agreement with the Maxim Group LLC ("Maxim") relating to shares of our common stock offered by this prospectus supplement and the accompanying prospectus (the "Maxim Agreement"). In accordance with the terms of the Maxim Agreement, we may offer and sell up to an aggregate of up to $75.0 million of our common stock, $0.001 par value per share, from time to time through Maxim, acting as agent. Our common stock is listed on the NYSE MKT under the ticker symbol "HEB". Sales of shares of our common stock under this prospectus supplement and the accompanying prospectus, if any, may be made by any method permitted by law deemed to be an "at-the-market" equity offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the "Securities Act"), which includes, without limitation, sales made directly on the NYSE MKT, on any other existing trading market for our common stock, or sales made to or through a market maker other than on an exchange. With our express written consent, the sales agent may also sell shares of our common stock in privately negotiated transactions. The sales agent will make all sales on a best efforts basis using commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the NYSE MKT, on terms mutually agreed upon by the sales agent and us. We have approved and allocated up to 117,600,000 shares of common stock to this offering, an increase of 27,600,000 shares from the shares listed in the prospectus supplement dated December 23, 2013. There is no arrangement for funds to be received in any escrow, trust or similar arrangement. As of March 1, 2015, the aggregate market value of our outstanding common stock held by non-affiliates was approximately $51,622,934 based on 218,333,136 shares of outstanding common stock, less approximately 3,237,577 shares held by affiliates, and a price of $0.24 per share, which was the last reported sale price of our common stock on the NYSE MKT on March 1, 2015. Pursuant to General Instruction I.B.6 of Form S-3, following the filing of our annual report on Form 10-K for the year ended December 31, 2014, in no event during the period of twelve calendar months immediately prior thereto, and including, the date of any sales under this prospectus supplement made subsequent thereto, will we sell our common stock in a public primary offering with a value exceeding more than one-third of the aggregate market value of the common stock held by non-affiliates so long as our public float remains below $75 million. We have offered and sold $0 of securities pursuant to General Instruction I.B.6 of Form S-3 during the twelve calendar months prior to and including the date of this prospectus supplement. Through March 1, 2015, we have sold a total of 80,057,689 shares of Common Stock under the Maxim Agreement for aggregate net cash proceeds of approximately $41,126,919 and paid commissions of approximately $1,333,807 to Maxim. This Prospectus Supplement updates and supersedes our prior Prospectus Supplement dated December 23, 2013. You should read "Risk Factors" beginning on page S-3 of this prospectus supplement and the risk factors described in other documents incorporated by reference herein before buying our securities. Maxim will be entitled to compensation at a fixed commission rate of 3.0% of the gross sales price of shares sold pursuant to the Maxim Agreement. In connection with the sale of the common stock on our behalf, Maxim may be deemed to be an "underwriter" within the meaning of the Securities Act, and the compensation of Maxim may be deemed to be underwriting commissions or discounts. We have agreed to indemnify the sales agent and its controlling persons against certain liabilities, including liabilities under the Securities Act. If we are unable to provide this indemnification, we will contribute to payments the sales agent and its controlling persons may be required to make in respect of those liabilities. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement and the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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