vTv Therapeutics Announces Investment by CinRx Pharma
HIGH POINT, N.C., July 25, 2022 (GLOBE NEWSWIRE) -- vTv Therapeutics Inc. (NASDAQ:VTVT) today announced entry into agreements that include a $10 million investment by CinPax, LLC ("CinPax"), a subsidiary of CinRx Pharma, LLC ("CinRx"). Under the terms of the agreements, CinPax acquired 4,154,549 shares of Class A Common Stock of vTv at an issue price of approximately $2.41 per share, with $6 million paid in cash at closing, and the remaining amount of $4 million payable on November 22, 2022. The agreements also provide for the issuance of 1.2 million warrants to CinRx to acquire additional shares of Class A Common Stock that become exercisable upon agreed vesting triggers (including FDA ap
