secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0001104659-23-118092
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortress Biotech raises $10M via public offering of 5.9M units at $1.70/unit
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- Sold 5,885,000 units at $1.70/unit, each consisting of one share common stock and one warrant (exercise $1.70, 5-year term).
- Gross proceeds ~$10.0M; net proceeds for operations including R&D, clinical trials, manufacturing, working capital.
- Directors and officers purchased ~$2.9M of units in the offering.
- Warrants contain anti-dilution adjustment: if dilutive issuance below current exercise price, exercise price reduces to that lower price (one-time).
- Offering closed November 14, 2023; Roth Capital acted as exclusive placement agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000110465923118092/0001104659-23-118092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000110465923118092/tm2330640d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-118092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer