MediciNova signs standby equity purchase agreement for up to $30M

16 hours ago 1

MediciNova (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange on Thursday announced a standby equity purchase agreement for up to $30 million worth of common stock over 36 months.
Under the agreement, the company shall have the right, but not the obligation, to sell its common stock in individual transactions – or advances – which will be up to 100% of the daily volume traded of MediciNova’s common stock during the five days immediately before the transaction date.

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