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Ohr announces $14.175 million public offering

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Ohr Pharmaceutical will offer common stock and warrants in a public offering, the company announced in a press release.

The $14.175 million public offering will be priced at $0.70 per share of common stock. Accompanying warrants to purchase 0.7 of a share of common stock will have an exercise price of $1.

With a term of 5 years, the warrants are immediately exercisable.

Proceeds from the offering are to be used for working capital and other general corporate purposes, the release said.

Closing is expected on or about April 10.