Processa Pharmaceuticals prices $7M public offering of 1.56M shares and warrants at $4.50 per unit

Processa Pharmaceuticals, Inc.

Pricing of 1,555,555 shares (or pre-funded warrants) and common warrants at $4.50 per unit; gross proceeds ~$7M.
Common warrants exercisable at $4.50/share, immediately exercisable, 5-year term; pre-funded warrants at $0.0001.
H.C. Wainwright & Co. as sole placement agent with 7.0% cash fee and placement agent warrants.
Offering closed Jan 30, 2024; net proceeds for general corporate purposes.
90-day lock-up on equity issuance subject to exceptions.

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

Processa Pharmaceuticals, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $7.0 million (effective 2024-01-26).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $7.0 million
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, Processa Pharmaceuticals, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional investors, pursuant to which the Company agreed to sell and issue, in a registered public offering (the “Offering”), (i) 476,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “common stock”), (ii) warrants to purchase 1,555,555 shares of common stock (the “Common Warrants”) and (iii) pre-funded warrants to purchase up to 1,079,555 shares of common stock in lieu of shares of common stock (the “Pre-Funded Warrants”).

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

Processa Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-004251

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.