PBLA - Panbela Therapeutics regains compliance with Nasdaq rules after closing ~$15M offering

• Disruptive therapeutics company Panbela Therapeutics ( NASDAQ: PBLA ) said it has regained compliance Nasdaq's listing standards after closing an ~$15M public offering of shares and warrants.
• The public offering closed Jan. 30.
• Panbela had received a letter from Nasdaq confirming that the company was cured of the previously identified minimum bid price and stockholders' equity deficiencies.
• The company closed a public offering consisting of  6.68M and warrants to purchase up to 13.35M shares at $2.25 per share and associated public warrants, or $2.249 per pre-funded warrant and associated public warrants.
• The public warrants have a cash exercise price of $2.75 per share, were exercisable upon issuance, and will expire five years following the date of issuance.
• The net proceeds are intended to be used for the continued clinical development of its product candidates ivospemin (SBP-101) and eflornithine (CPP-1X), working capital, business development and other general corporate purposes.
• Source: Press Release

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