Palatin Technologies enters $50M ATM equity distribution agreement with Canaccord Genuity

PALATIN TECHNOLOGIES INC

Palatin may sell up to $50M of common stock at market prices via Canaccord.
Canaccord receives 3.0% commission on gross proceeds from sales.
No obligation to sell any shares; company may suspend at any time.
Shares offered under existing effective S-3 registration statement.

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

PALATIN TECHNOLOGIES INC entered into Equity Distribution Agreement with Canaccord Genuity LLC valued at up to approximately $50 million (effective 2023-04-12).

Action: entry
Agreement: atm program
Counterparty: Canaccord Genuity LLC
Value: up to approximately $50 million
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, Palatin Technologies, Inc. (the “ Company ”) entered into a new Equity Distribution Agreement, dated April 12, 2023 (the “ Equity Distribution Agreement ”), with Canaccord Genuity LLC (“ Canaccord ”), pursuant to which the Company may, from time to time, offer and sell, through Canaccord, shares of the Company’s common stock, par value $0.01 per share (the “ Shares ”), having an aggregate offering price of up to approximately $50 million.

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Source: SEC EDGAR

accession 0001654954-23-004637

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