Apr 03, 2019 (Market Exclusive via COMTEX) — AZURRX BIOPHARMA, INC. AZRX, +0.78% Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On April 1, 2019, AzurRx BioPharma, Inc. (the “Company”)entered into a Selling Agent Agreement (the “Selling Agent Agreement”) with Alexander Capital, L.P. (“Alexander Capital”), to which Alexander Capital agreed to act as selling agent in connection with a public offering of sharesof the Company’s common stock, par value $0.0001 per share (“Common Stock”) (the “Offering”). to the Selling Agent Agreement, the Company agreed to pay Alexander Capital a cash fee equal to 7.0% of the aggregate gross proceeds of the Offering and to issue Alexander Capital warrants to purchase a number of shares of Common Stock equal to 3.0% of the aggregate number of shares of Common Stock sold in the Offering. The Company also agreed to reimburse Alexander Capital for its expenses in connection with the Offering on a non-accountable basis in an amount equal to 1.0% of the gross proceeds of the Offering and up to $50,000 for other accountable expenses. A copy of the Selling Agent Agreement is attached to this Current Report on Form 8-K as Exhibit 10.1.
On April 2, 2019, the Company offered and sold a total of 1,294,930 shares of Common Stock in connection with the Offering at a public offering price of $2.13 per share. As a result, the Company received net proceeds of approximately $2.5 million, after deducting the selling agent fee payable to Alexander Capital and other Offering expenses payable by the Company. In connection with the closing of the Offering and to the Selling Agent Agreement, the Company issued warrants to Alexander Capital to purchase up to 38,848 shares of Common Stock (the “Selling Agent Warrants”). The Selling Agent Warrants