Sichenzia Ross Friedman Ference LLP Represents Israeli Biotech Company Can-Fite Biopharma on $4.8M Registered Direct Offering of ADSs

can-fite biopharma

New York, NY – Press Release – October 15, 2015 – Securities and corporate law firm Sichenzia Ross Friedman Ference LLP (“SRFF”) announced today that the Firm has represented Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), an Israeli biotechnology company advancing a pipeline of proprietary small molecule drugs that addresses cancer and inflammatory diseases, on a registered direct offering with institutional investors where the Company issued 1,109,196 American Depository Shares (ADSs) at a purchase price of $4.35 per ADS. In connection with the offering, the investors will receive an unregistered warrant to purchase 40% of an ADS for each ADS originally purchased. The warrants have an exercise price of $5.25 per ADS and Can-Fite raised approximately $4.8 million in gross proceeds. This past September, SRFF also represented Can-Fite in an earlier public offering of ADSs where the Company raised $9 million.

The Sichenzia Ross Friedman Ference LLP team was led by Partner Gregory Sichenzia in collaboration with Gary Emmanuel and Avital Even Shoshan. Additionally, H.C. Wainwright & Co. acted as the placement agent in connection with this offering.

Sichenzia Ross Ference LLP

Sichenzia Ross Ference LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry.  In addition to handling routine to complex commercial matters, SRF’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations.  The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation.  Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies.  The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA).  These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct.  Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records.  The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

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