SLS - SELLAS Life Sciences Group Announces Closing of $20 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules | Benzinga
NEW YORK, March 19, 2024 (GLOBE NEWSWIRE) -- SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) ("SELLAS'' or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel therapies for a broad range of cancer indications, today announced the closing of its previously announced registered direct offering of 13,029,316 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 13,029,316 shares of common stock issued in a concurrent private placement (together with the registered direct offering, the "Offering") at a combined purchase price of $1.535 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.41 per share, are immediately exercisable upon issuance and will expire 5.5 years from issuance.
The gross proceeds from the Offering are approximately $20 million, before deducting placement agent fees and other estimated Offering expenses. The Company intends to use the net proceeds from the Offering for research and development activities, working capital and general corporate purposes.
A.G.P./Alliance Global Partners acted as sole placement agent for the Offering. Maxim Group LLC acted as a financial advisor to the Company in connection with the Offering.
The registered direct offering of the shares of common stock (or common stock equivalents in lieu thereof) was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-255318) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). ...