Parnell Pharmaceuticals Holdings Ltd. (NasdaqGM:PARN) announced that it has entered into a securities purchase agreement for a private placement of 175,000 ordinary shares at $3.50 per share for gross proceeds of $612,500 with new accredited investor, Lincoln Park Capital Fund, a fund managed by Lincoln Park Capital on February 23, 2016. The company will also issue warrants to purchase up to an additional 150,000 ordinary shares for a purchase price of $5 per share for a period of six month and one day anniversary of the issuance date. The company will issue the securities pursuant to exemption provided under Regulation D. The company will pay non-accountable fee equal to $22,500.
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- Parnell Pharmaceuticals Holdings Ltd. announced that it expects to receive $0.61 million in funding from Lincoln Park Capital