Fortress Biotech raises $8M in registered direct offering and private placements

Fortress Biotech, Inc.

Raised $8M gross from sale of 3,939,394 shares at $1.65 and warrants to institutional investors; CEO also purchased shares/warrants.
Private placement warrants exercisable at $1.84, six months post-issuance, 5.5-year term.
CEO Lindsay Rosenwald purchased 763,359 shares at $1.84 and warrants at $0.125 per warrant.
Proceeds for R&D, clinical trials, working capital; lock-up agreements for insiders for 60 days after effective date.
A.G.P./Alliance Global Partners acted as placement agent with 7% commission (3.5% for insider).

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