Tetraphase Pharmaceuticals, Inc. (NasdaqGS:TTPH) announced that it has entered into a securities purchase agreement with new investor Armistice Capital LLC for 1,270,000 common shares at a price of $3 per share for gross proceeds of $3,810,000 and pre-funded warrants to purchase up to an aggregate of 2,063,334 shares at a price of $2.999 per share for gross proceeds of $6,187,938.666 for aggregate gross proceeds of $9,997,938.666 on January 22, 2020. The company will issue accompanying warrants to purchase an aggregate of 1,270,000 shares with common shares and accompanying warrants to purchase up to an aggregate of 2,063,334 shares with the pre-funded warrants. Each pre-funded warrant will be exercisable at a price of $0.001 per share, immediately and will be exercisable until all of the pre-funded warrants are exercised in full. Each common stock warrant will have an exercise price of $2.87 per share, will be exercisable immediately and will expire five years from the date of issuance. The transaction is expected to close on or about January 24, 2020.