Zosano Pharma Corp., of Fremont, Calif., agreed to sell 4.8 million common shares and warrants to purchase 9.6 million additional shares at $1.57 per unit in a private placement to qualified institutional buyers, institutional accredited investors, accredited investors and certain members of the company's management and board. The financing is expected to generate gross proceeds of approximately $7.5 million from sale of the units, and Zosano is eligible to receive up to another $14.4 million upon exercise of the warrants.