- 180 Life Sciences ( NASDAQ: ATNF ) stated Monday the company has signed a definitive $6.5M stock offering deal with a healthcare-focused U.S. institutional investor.
- The deal will include the issue of 6.13M common shares and warrants to purchase up to 6.13M additional share, at combined $1.06 per unit.
- Warrants have an exercise price of $1.06 per share with expiry of 5 years.
- The clinical-stage biotechnology said it intends to use the net proceeds for research and development expenses and general corporate purposes.
- Closing of the offering is expected on July 20, 2022.
- Stock is down 9% premarket , Monday, to trade at $1.04 vs. 52-week trading range of $0.80 to $9.05.
- Earlier: 180 Life Sciences falls after updates on regulatory path for anti-fibrosis therapy
For further details see:
180 Life Sciences to raise $6.5M in direct stock offering