Hillstream BioPharma prices public offering of 5.3M shares at $0.50, raising $2.65M gross

Canton Strategic Holdings, Inc.

Pricing of 5,300,000 shares at $0.50 each; underwriters granted 45-day option for 795,000 additional shares.
Net proceeds ~$2.2M ($2.6M with full over-allotment); funds for HSB-1216, HSB-3215, HSB-1940 pipeline and working capital.
Underwriting agreement with ThinkEquity as sole book-runner; Representative's Warrants for 3% of shares at $0.625.
Offering expected close May 2, 2023; 90-day lock-up for company, 180-day for officers/directors.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Canton Strategic Holdings, Inc. entered into Underwriting Agreement with ThinkEquity LLC, as representative of the several underwriters listed on Schedule 1 thereto valued at approximately $2.2 million (effective 2023-04-27).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC, as representative of the several underwriters listed on Schedule 1 thereto
Value: approximately $2.2 million
Effective: 2023-04-27

Exact text from the filing

On April 27, 2023 (the “Effective Date”), Hillstream BioPharma, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC (“ThinkEquity”), as representative of the several underwriters listed on Schedule 1 thereto (the “Underwriters”), relating to the public offering (the “Offering”) of 5,300,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a price to the public of $0.50 per Share (the “Offering Price”).

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Canton Strategic Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-014784

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