2023-10-17 10:48:51 ET
- Purple Biotech ( PPBT ) Tuesday announced a registered direct offering of 4.35M of its American Depositary Shares (ADSs) for $1.15 per ADS.
- In addition, in a concurrent private placement, the company would issue unregistered warrants to purchase up to 4.35M ADSs.
- The warrants would have an exercise price of $1.25 per ADS and will be immediately exercisable upon issuance for five and one-half years.
- The company expected to raise about $5M in gross proceeds, which would be employed towards the development of its oncology therapeutic candidates, among others.
- Each ADS represents 10 ordinary shares of the company.
- Source: Press Release
For further details see:
Purple Biotech announces $5M direct offering to fund oncology therapeutic candidates