Sichenzia Ross Friedman Ference LLP Represents Israeli Biotech Company Can-Fite Biopharma on $4.8M Registered Direct Offering of ADSs
New York, NY – Press Release – October 15, 2015 – Securities and corporate law firm Sichenzia Ross Friedman Ference LLP (“SRFF”) announced today that the Firm has represented Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), an Israeli biotechnology company advancing a pipeline of proprietary small molecule drugs that addresses cancer and inflammatory diseases, on a registered direct offering with institutional investors where the Company issued 1,109,196 American Depository Shares (ADSs) at a purchase price of $4.35 per ADS. In connection with the offering, the investors will receive an unregistered warrant to purchase 40% of an ADS for each ADS originally purchased. The warrants have an exercise price of $5.25 per ADS and Can-Fite raised approximately $4.8 million in gross proceeds. This past September, SRFF also represented Can-Fite in an earlier public offering of ADSs where the Company raised $9 million.
The Sichenzia Ross Friedman Ference LLP team was led by Partner Gregory Sichenzia in collaboration with Gary Emmanuel and Avital Even Shoshan. Additionally, H.C. Wainwright & Co. acted as the placement agent in connection with this offering.
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