Zosano Pharma (ZSAN) has entered into agreements for the private placement of $7.5M in equity to a group of institutional investors and certain members of management and board of directors. The equity consists of 4.8M units priced at $1.57. Each unit consists of one share of common stock, one Series A warrant to purchase one share of common at $1.45 and one Series B warrant to purchase one share of common at $1.55. The Series A warrant will expires 12 months and one week from the date of issuance and the Series B in five years. If all warrants are exercised, the company will raise an additional $14.4 million. Net proceeds from the offering will fund the M207 program and general corporate purposes.