FBIO - Fortress Biotech Announces Launch of Proposed Public Offering | Benzinga
MIAMI, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress" or "Company"), an innovative biopharmaceutical company focused on efficiently acquiring, developing and commercializing or monetizing promising therapeutic products and product candidates, today announced that it has commenced a public offering, subject to market and other conditions, to offer and sell units, consisting of (i) one share of common stock (or pre-funded warrant in lieu thereof) and (ii) one warrant to purchase one share of common stock. All of the shares of common stock, pre-funded warrants and accompanying warrants are being offered by Fortress.
Certain directors and officers of the Company may participate in the offering. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Roth Capital Partners is acting as exclusive placement agent for the offering on a reasonable best-efforts basis.
Fortress expects to use the net proceeds from the offering for its operations, including, but not limited to, general corporate purposes, which may include research and development expenditures, clinical trial expenditures, manufacture and supply of product, and working capital.
The securities described above are being offered pursuant to a registration statement on Form S-3 (File No. (333-258145), which was declared effective by the Securities and Exchange Commission (the "SEC") on July 30, 2021. The offering is being made only by means of a prospectus which is a part of the effective registration statement. A preliminary prospectus related to the offering will be filed with the SEC on November 9, 2023. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, will be filed with the SEC and may be obtained from Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach, CA 92660, or by phone at (800) 678-9147 or email at