Processa closes $5M public offering; Series A/B warrants at $0.65 exercise price

Processa Pharmaceuticals, Inc.

Gross proceeds of $5.0M from offering closed Jan 29, 2025; net proceeds for general corporate purposes.
Offered 8,050,672 shares (or pre-funded warrants) at combined price of $0.615 (institutions) / $0.7975 (CEO/board) with Series A and B warrants.
Series A warrants exercisable at $0.65 for 5 years, Series B at $0.65 for 18 months, both subject to stockholder approval.
CEO and certain board members participated alongside a healthcare-focused institutional investor; A.G.P. acted as sole placement agent.
Company to seek stockholder approval within 90 days for warrant share issuance; otherwise will call meetings every 90 days.

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