Item
8.01. Other Events.
The $5 million sale of common stock and
warrants by Rexahn Pharmaceuticals, Inc. (the “Company”) described in
Item 1.01 of the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on October 20, 2009, closed on October 23,
2009 as contemplated by the Securities Purchase Agreement described
therein.
On October 23, 2009, Rexahn received
gross proceeds of $5 million cash for the sale of 6,072,383 shares of common
stock at $0.8234 per share to five institutional investors, and warrants to buy
an additional 2,125,334 shares of common stock at an exercise price of $1.00 per
share. Rodman & Renshaw, LLC, a subsidiary of Rodman &
Renshaw Capital Group, Inc. (NasdaqGM: RODM), acted as the exclusive placement
agent for this transaction and received warrants to purchase 245,932 shares of
common stock at an exercise price of $1.029 per share. The Company
has 71,924,496 shares outstanding following the completion of the
offering.
The Company’s press release dated
October 26, 2009 relating to such closing is attached hereto as Exhibit 99.1 and
is hereby incorporated herein by reference.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number
|
Description
|
|
|
99.1
|
Press
release dated October 26, 2009.
|
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
|
REXAHN
PHARMACEUTICALS, INC.
|
|||
|
(Registrant)
|
|||
|
By:
|
/s/ Chang H. Ah |
|
|
|
Chang
H. Ahn
|
|||
|
Chairman
and Chief Executive Officer
|
|||
Date: October
26, 2009
EXHIBIT
INDEX