Acelrx pharmaceuticals announces closing of previously announced private placement priced at-the-market under nasdaq rules

Transformative capital raise, led by new investors including nantahala capital management   the private placement provides access to up to $26.3 million of gross proceeds upon the exercise of the milestone-affected warrants hayward, calif. , july 21, 2023 /prnewswire/ -- acelrx pharmaceuticals, inc. (nasdaq: acrx), ("acelrx" or the "company"), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings, today announced the closing of its previously announced private placement of common stock, pre-funded warrants and common warrants for aggregate gross proceeds to the company of $10 million, before deducting the placement agent's fees and other offering expenses payable by the company, with an additional potential $16.3 million upon the exercise of the common warrants, which include an acceleration feature should the company achieve certain performance milestones.
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