secwatch.observer — SEC 8-K summary
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Issuer:     PALATIN TECHNOLOGIES INC (PTN)
CIK:        0000911216
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001654954-24-015560
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palatin receives ~$3.4M from warrant exercise; issues new Series C/D warrants
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- Gross proceeds of ~$3.4M from exercise of 3,907,679 shares at amended price $0.875.
- Issued unregistered Series C warrants for 3,907,679 shares and Series D for 1,953,839 shares, both at $0.875/share.
- Series C warrants exercisable immediately, 5-year term; Series D exercisable after stockholder approval, 5-year term.
- Transaction expected to close Dec 17, 2024; proceeds for working capital and general corporate purposes.
- Company agreed to file resale registration statement for inducement warrant shares by Feb 28, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/911216/000165495424015560/0001654954-24-015560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/911216/000165495424015560/ptn_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-015560

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer