Arch Therapeutics, Inc. $4.5 Million Registered Direct Offering

Source:  Arch Therapeutics, Inc. 6/29/18


Arch Therapeutics, Inc. (OTCQB:ARTH) (“Arch” or the “Company”), a developer of innovative materials as hemostatic and wound care devices, today announced the pricing of registered direct offering of 9.1 million units, each unit consisting of a share of the Company’s common stock, and a Series G Warrant (“Series G Warrant”) to purchase 0.75 of a share of our common stock for the combined purchase price of $0.50 per unit.  The Series G Warrants have an exercise price of $0.70 per share and are exercisable for a period of five years.

The gross proceeds to Arch from this offering are approximately $4.5 million before deducting estimated offering expenses payable by the Company. The offering is expected to close on or about July 2, 2018, subject to customary closing conditions.

The securities described above are being offered by Arch pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”) (File Number 333- 213878) on October 20, 2016. A final prospectus supplement relating to the offering will be filed with the SEC and, once filed, will be available on the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Arch Therapeutics, Inc.

Arch Therapeutics, Inc. is a biotechnology company developing a novel approach to stop bleeding (hemostasis), control leaking (sealant) and manage wounds during surgery, trauma and interventional care. Arch is developing products based on an innovative self-assembling barrier technology platform with the goal of making care faster and safer for patients. Arch's development stage product candidates include the AC5™ Topical Gel and the AC5™ Surgical Hemostatic Device.