other material
confidence high
sentiment neutral
materiality 0.65
Palatin Technologies announces $4.7M equity offering at $1.00/share, private warrants
PALATIN TECHNOLOGIES INC
- Gross proceeds ~$4.7M from sale of 2.55M shares at $1.00/share and pre-funded warrants for 2.138M shares.
- Private placement includes warrants to purchase 4.688M shares at $1.00, exercisable starting 6 months after issuance for 5.5 years.
- Net proceeds will be used for general working capital and corporate purposes.
- A.G.P./Alliance Global Partners leads placement; Laidlaw & Co. co-placement agent; 7% cash fee paid.
- Company subject to 45-day lockup on additional equity sales and 6-month ban on variable rate transactions.