Palisade Bio exercises warrants for $2.5M gross proceeds; exercise price reduced to $0.7313

PALISADE BIO, INC.

Exercise of ~3.4M Existing Warrants at reduced price of $0.7313 per share, raising ~$2.5M gross.
Replacement Warrants issued for each exercised warrant, exercisable at $0.7313 for 5 years.
Existing warrants initially had exercise prices up to $35.525/share; investors received new warrants.
Ladenburg Thalmann acted as placement agent, earning 7.75% cash fee and 6% warrant coverage.
Net proceeds to be used for working capital and general corporate purposes.

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

PALISADE BIO, INC. entered into warrant inducement agreements with certain accredited and institutional holders valued at approximately $2,502,717 (effective 2024-01-30).

Action: entry
Counterparty: certain accredited and institutional holders
Value: approximately $2,502,717
Effective: 2024-01-30

Exact text from the filing

On January 30, 2024, Palisade Bio, Inc. (the “Company”) entered into warrant inducement agreements (the “Agreements”) with certain accredited and institutional holders (collectively, the “Holders”)

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

PALISADE BIO, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-004539

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