Overview
International law firm McDermott Will & Emery represented Inhibikase Therapeutics, Inc. (Inhibikase), a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of Parkinson’s disease, Parkinson’s-related disorders and other diseases of the Abelson Tyrosine Kinases, in entering into a securities purchase agreement with a single institutional investor to purchase 1,672,452 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules.
In a concurrent private placement, the Company also agreed to issue unregistered Series A warrants to purchase up to an aggregate of 1,672,452 shares of common stock, and unregistered Class B warrants to purchase up to an aggregate of 1,672,452 shares of common stock. The Series A and Series B warrants will be exercisable beginning on the effective date of stockholder approval and, in the case of Series A warrants, will expire one year from the date of stockholder approval, and in the case of Series B warrants, will expire five years from the date of stockholder approval.
The Company also entered into a warrant inducement agreement with the investor to exercise certain outstanding warrants. In consideration therefor, the Company agreed to reduce the exercise price of the unexercised portion of such warrants and to issue Series C warrants and Series D warrants exercisable beginning on the effective date of stockholder approval. The Series C warrants will expire one year from the date of stockholder approval and the Series D warrants will expire five years from the date of stockholder approval.
The McDermott team was led by Merrill Kraines, Todd Kornfeld, and Brian Tratner.
Read Inhibikase’s press release here.
About McDermott
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