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CorMedix to raise $3M in concurrent offerings

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Bridgewater-based pharmaceutical company CorMedix announced today it has entered into two securities purchase agreements with existing institutional investors.

According to the announcement, the company entered into a securities purchase agreement with an existing institutional investor, pursuant to which it has agreed to sell 150,000 shares of series C-1 nonvoting convertible preferred stock and a warrant to purchase up to 750,000 shares of common stock.

CorMedix also entered a separate securities purchase agreement with another existing institutional investor, pursuant to which it has agreed to sell 150,000 shares of series C-2 nonvoting convertible preferred stock and a warrant to purchase up to 750,000 shares of common stock, for aggregate gross proceeds of $3 million.

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