SBFM - Sunshine Biopharma raises $19.5M in a private placement of securities
Sunshine Biopharma (NASDAQ:SBFM) has entered into a securities purchase agreement with certain institutional and accredited investors for gross proceeds of approximately $19.5M. The company will also issue 4,862,845 units and pre-funded units at a purchase price of $4.01 per unit. Each unit and pre-funded unit consist of 1 share of common stock or common stock equivalent, and 2 non-tradable five years warrants, each warrant exercisable for one share of common stock for $3.76 (for a total of 9,725,690 shares underlying the warrants). The offering is expected to close on or about April 28, 2022. Shares down 1.5% premarket.
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Sunshine Biopharma raises $19.5M in a private placement of securities