Worcester’s RXi Pharmaceuticals Corp. is issuing a stock offering of nearly $12 million.
The company says it plans to use the proceeds of the offering for general purposes, possibly including working capital, capital expenditures, research and development spending and funding for trials, commercialization or acquisitions.
The offering consists of 11,950,000 “units” priced at $1 each. Each unit consists of a share of common stock and a warrant to purchase another share at an exercise price of $1 per share.
Assuming the warrants are not exercised, the company said it expects net proceeds of about $10.9 million.
Last month, RXi announced a $8.1 million offering of 6 million units.
