Delcath deal with investors raises $500k, clears path for reverse split

Delcath Systems (NSDQ:DCTH) and a group of investors made an end run around the company’s shareholders with a deal that paves the way for the reverse split that stockowners have twice shot down.
“Together with our Board of Directors, we are taking these actions in the best interests of all shareholders. Regaining access to equity capital will allow us to continue investing in our Clinical Development Program and our commercial efforts in Europe,” president & CEO Jennifer Simpson wrote in a letter to Delcath’s shareholders.
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Source: Mass Device - September 22, 2017 Category: Medical Devices Authors: Sarah Faulkner Tags: Business/Financial News Drug-Device Combinations Funding Roundup Wall Street Beat Delcath Systems Inc. Source Type: news