Anthera Pharmaceuticals, Inc. (NasdaqGM:ANTH) announced that it has entered into a securities purchase agreement for a private placement for gross proceeds of $15,000,000 on October 23, 2017. The company will issue 9,932,478 shares for gross proceeds of $1.25 per share for gross proceeds of $12,415,597.5 and 2,067,522 non voting class Y preferred stock at a price of $1.25 per share convertible into 2,067,522 shares for gross proceeds of $2,584,402.5. The company will also issue warrants to purchase 3 additional shares at an exercise price of $1.55 per share for a period of six months and warrants to purchase one common share for an exercise price of $1.25 per share. The transaction will involve participation from Sabby Volatility Warrant Master Fund, Ltd. a fund managed by Sabby Management, LLC for 1,628,078 shares for $2.035.097.5, 683 Capital Partners, LP a fund managed by 683 Capital Management, LLC 1,440,000 shares for $1,800,000, Armistice Capital Master Fund Ltd. a fund managed by Armistice Capital LLC for 1,932,478 shares for $2,415,597.50 and 2,067,522 class Y preferred stock for $2,584,402.50 and other investors. The transaction will happen in two tranches. The first tranche is expected to occur on or about October 26, 2017 for 2,306,737 shares and second tranche for 7,625,741 shares and 2,067,522 class Y preferred stock. The transaction is subject to shareholder approval. The securities issued in the transaction are subject to a hold period. The securities offered and sold in the transaction are pursuant to an exemption from the registration requirements under Section 4(a)(2) of the securities act and Rule 506 of Regulation D.