biopath holdings inc shares were down 44 at 160 after the company said it has entered into a definitive agreement with certain institutional investors for the issuance and sale of 800000 shares of its common stock for 250 a share the company expects to see proceeds of 2 million from the a registered direct offering in a concurrent private placement biopath has also agreed to issue warrants the offerings are expected to close on or about wednesday biopath will issue warrants to buy up to 800000 shares which represents 100 of the number of shares of common stock issued in the registered direct offering with an exercise price of 285 a share biopath intends to use the proceeds from the offerings for working capital and general corporate purposes