Lipella Pharmaceuticals closes $2.23M initial tranche of Series B preferred offering

LIPELLA PHARMACEUTICALS INC.

Initial closing of $2.23M on Dec 23, 2024: 22,295 Series B shares sold at $100 each.
Net proceeds ~$1.8M; intended for working capital and general corporate purposes.
Series B convertible into 854,214 common shares at $2.61/share; 4.99% ownership cap.
Spartan Capital received ~$334K fees, 260,108 Series C conversion shares, and 85,421 warrants at $1.00.
Maximum offering size $6.0M (up to $7.2M with over-allotment); offering open until June 30, 2025.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

LIPELLA PHARMACEUTICALS INC.: Filed Series B Certificate of Designation and Certificate of Correction, and Series C Certificate of Designation, establishing series preferred stock rights and preferences (effective 2024-12-20).

Change: charter amendment
Effective: 2024-12-20

Exact text from the filing

On December 23, 2024, the Company filed the Series C Certificate of Designation with the Delaware Secretary of State, establishing the rights, preferences, privileges, qualifications, restrictions, and limitations relating to the Series C Preferred Stock.

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42 governance changes filed in the last 30 days. Browse all governance changes →

LIPELLA PHARMACEUTICALS INC. filing history →

Source: SEC EDGAR

accession 0001753926-24-002189

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