secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2024-09-23T23:59:59+00:00
Accession:  0001104659-24-102033
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000110465924102033/0001104659-24-102033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000110465924102033/tm2424497d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-102033

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