Palatin Technologies raises $5M in registered direct offering and private placement of warrants

PALATIN TECHNOLOGIES INC

Sold 1,325,000 shares and pre-funded warrants for 1,033,491 shares at $2.12/unit; private warrants for 2,358,491 shares at $2.12 exercise price.
Gross proceeds $5M; net proceeds $4.5M after placement agent fees and expenses for general corporate purposes.
Offering closed Oct 24, 2023; H.C. Wainwright received 7% cash fee and 117,925 placement agent warrants at $2.65.
60-day lock-up on share issuance and 12-month restriction on variable rate transactions are in effect.

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 Purchase Agreement with the investor named on the signature page thereto valued at $4.5 million net proceeds (effective 2023-10-20).

Action: entry
Agreement: equity purchase
Counterparty: the investor named on the signature page thereto
Value: $4.5 million net proceeds
Effective: 2023-10-20

Exact text from the filing

On October 20, 2023, Palatin Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the investor named on the signature page thereto, to sell in a registered direct offering

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PALATIN TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001654954-23-013343

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