2023-05-12 08:46:01 ET
- Sunshine Biopharma ( NASDAQ: SBFM ) has entered into a securities purchase agreement with a single healthcare-focused institutional investor for aggregate gross proceeds of ~$5M .
- In connection with the offering, the Co. will issue 5.95M units and pre-funded units at a purchase price of $0.84/unit, priced ATM under Nasdaq rules.
- Each unit or pre-funded unit consists of one share of common stock and two non-tradable warrants each exercisable for $0.59 for one share of common stock.
- The offering is expected to close on or about May 16, 2023.
- SBFM -17.81% premarket to $0.74.
For further details see:
Sunshine Biopharma to sell 5.95M units at $0.84 in private placement