Palisade Bio announces $4M private placement of common stock and pre-funded warrants

PALISADE BIO, INC.

Gross proceeds of $4M from sale of 615,242 shares/pre-funded warrants at $6.5015 each.
Issuing 922,863 common warrants with 7-year term at $6.314 per share.
Ladenburg Thalmann as placement agent; closing on or about May 6, 2024.
Net proceeds for working capital and general corporate purposes.
Company to file registration statement for resale within 10 days post-closing.

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 Purchase Agreement with an institutional investor valued at approximately $4.0 million (effective 2024-05-01).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: approximately $4.0 million
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Palisade Bio, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor (the “Purchaser”), pursuant to which the Company agreed to sell and issue, in a private placement, (i) 85,100 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”) and (ii) 530,142 prefunded warrants (the “Prefunded Warrants”) at a purchase price per Share or Prefunded Warrant of $6.5015 (less the applicable exercise price of each Prefunded Warrant purchased) (the “Offering”).

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PALISADE BIO, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-017739

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