PolyPid Announces Closing of Underwritten Public Offering, Including Full Exercise of Overallotment Option, and Concurrent Private Placement with $11.4 Million in Aggregate Gross Proceeds
Retrieved on:
Friday, March 31, 2023
The Company also announced the closing of a concurrent private placement of pre-funded warrants with certain of its existing shareholders with gross proceeds of $4.35 million.
Key Points:
- The Company also announced the closing of a concurrent private placement of pre-funded warrants with certain of its existing shareholders with gross proceeds of $4.35 million.
- PolyPid intends to use the net proceeds from the Public Offering and the private placement to fund ongoing clinical activities and development of D-PLEX100, working capital and other general corporate purposes.
- Newbridge Securities Corporation is acting as the sole book-running manager of the Public Offering and as agent of the private placement.
- The Public Offering was comprised of 14,660,000 Ordinary Shares, at a public offering price of $0.42 per share.