On Tuesday, Shares of Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF), lost - 8.04% to $3.66.
Can-Fite BioPharma Ltd., declared that it has reached definitive agreements with existing institutional investors to receive gross proceeds of about $4.8 million.
In connection with the offering, the Company will issue 1,109,196 registered American Depository Shares (ADSs) of Can-Fite at a purchase price of $4.35 per ADS in a registered direct offering. Additionally, for each ADS purchased by investors, the investors will receive an unregistered warrant to purchase 40% of an ADS. The warrants have an exercise price of $5.25 per ADS, shall be exercisable six months following the issuance date and will expire five and one-half years from the issuance date. The closing of the offering is predictable to take place on or about October 15, 2015, subject to the satisfaction of customary closing conditions.
“Following our recent $9 million fund raise in September, we are happy that the same institutional investors who take partd in last month’s round have invested again in Can-Fite’s current registered direct offering. We believe this reflects growing confidence in our Company,” stated Can-Fite CEO, Pnina Fishman.
Can-Fite BioPharma Ltd., a clinical-stage biopharmaceutical company, develops small molecule therapeutic products for the treatment of autoimmune-inflammatory, oncological, and ophthalmic diseases. It offers CF101, which has accomplished Phase II/III clinical trials for the treatment of psoriasis; accomplished Phase II clinical trials for the treatment of rheumatoid arthritis; accomplished Phase I clinical study for the treatment of osteoarthritis; and accomplished Phase I study for the treatment of uveitis, in addition to is in Phase II clinical trials for the treatment of glaucoma or related syndromes of ocular hypertension.
Shares of Amsurg Corp (NASDAQ:AMSG), declined -4.11% to $74.88, during its last trading session.
Team Health Holdings, confirmed that it has received an unsolicited proposal from AmSurg Corp. (AMSG) to combine in a stock-and-cash merger at a fixed exchange ratio of 0.768x AmSurg shares per TeamHealth share. Under the AmSurg proposal, TeamHealth shareholders would also receive cash consideration of $11.49 per share.
TeamHealth stated that this is the same proposal that its Board of Directors formerly reviewed, considered and rejected as not in the best interest of TeamHealth and its stockholders. This conclusion was reached with the assistance of TeamHealth’s financial and legal advisors and was based on the insufficient value indicated in the AmSurg proposal, the execution risk of achieving that value, and other key planned factors, counting the Board’s confidence in TeamHealth’s current planned plan, the benefits associated with TeamHealth’s acquisition of IPC Healthcare, and TeamHealth’s leadership position in the physician services industry.
“The TeamHealth Board reaffirmed its conclusion to reject AmSurg’s proposal as it undervalues the Company and contains noteworthyexecution risk. We have great confidence in our ability to continue delivering value for TeamHealth stockholders and remain focused on realizing the benefits of our agreement with IPC Healthcare, which is on track to close in the fourth quarter,” said Michael D. Snow, President and Chief Executive Officer of TeamHealth.
AmSurg Corp., through its auxiliaries, provides ambulatory and physician services in the United States. The company operates through two divisions, Ambulatory Services and Physician Services. The Ambulatory Services division acquires, develops, and operates ambulatory surgery centers (ASCs) in partnership with physicians.
Finally, Shares of Tegna Inc (NYSE:TGNA), ended its last trade with 0.16% gain, and closed at $25.04.
KARE 11, a TEGNA Media station in Minneapolis, Minn., in partnership with C.H. Robinson, has selected Minneapolis Recreation Development as its partner for their 2015 USA RECENTLY Make A Difference Day project. Make A Difference Day is the nation’s largest single-day of community service, bringing together millions of Americans with a common mission — to improve the lives of others through volunteerism. This year, Make A Difference Day will take place on Saturday, October 24th.
Employees from KARE 11 and their families will join C.H. Robinson employees and community volunteers at C.H. Robinson’s headquarters in Eden Prairie, Minn. Volunteers will be making sandwiches, urban survival kits and nutrition kits. Sandwiches and kits will be distributed by Minneapolis Recreation Development, a non-profit organization that serves the homeless community, vulnerable individuals, disadvantaged youth and their families in the Twin Cities.
“It is a privilege to serve our community,” said John Remes, President and General Manager. “At KARE 11 we have a long history of using the power of our medium to improve the lives of our fellow citizens. Make A Difference Day is a great example of this privilege and we are proud to partner with C.H. Robinson to make a real difference.”
TEGNA Inc. engages in media and digital businesses in the United States. The company operates 46 television stations that produce local programming, such as news, sports, and entertainment; and associated online sites.
