Lipella raises $1.28M in registered direct offering of common stock and pre-funded warrants at $0.62/share

LIPELLA PHARMACEUTICALS INC.

Total offering of 2,066,000 equity units (399K shares + 1,667K pre-funded warrants) at $0.62 per unit.
Gross proceeds ~$1.28M closed August 1, 2024; net proceeds for working capital and general corporate purposes.
H.C. Wainwright served as exclusive placement agent; receives 7.5% cash fee and 154,950 warrants exercisable at $0.775.
Pre-funded warrants exercisable immediately at $0.001/share with 9.99% beneficial ownership blocker.
Company agreed to 30-day lock-up on equity issuance and 1-year restriction on variable rate transactions.

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