- Sellas Life Sciences Group ( NASDAQ: SLS ) shares fell 44% Friday morning after the biopharmaceutical company priced its $20M securities offering.
- The offering comprises 7,220,217 shares of common stock and accompanying warrants to purchase up to 7,220,217 shares of common stock, issued at a combined public offering price of $2.77 per share and accompanying warrant.
- The warrants are immediately exercisable at $2.77/share, and will expire five years from the date of issuance.
- Gross proceeds are expected to be $20M, before deducting underwriting discounts and commissions and offering expenses.
- The offering is expected to close on February 28, 2023, subject to the satisfaction of customary closing conditions.
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Sellas Life Sciences dips after pricing $20M securities offering