---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-24-002189"
form_type: "8-K"
ticker: "LIPO"
cik: "0001347242"
company_name: "LIPELLA PHARMACEUTICALS INC."
filed_at: "2024-12-30T23:59:59+00:00"
generated_at: "2026-05-28T22:40:40.513395+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001753926-24-002189
- form_type: 8-K
- ticker: LIPO
- cik: 0001347242
- company_name: LIPELLA PHARMACEUTICALS INC.
- filed_at: 2024-12-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1347242/000175392624002189/0001753926-24-002189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1347242/000175392624002189/g084615_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-24-002189
- JSON: https://secwatch.observer/filing/0001753926-24-002189.json
- Plain text: https://secwatch.observer/filing/0001753926-24-002189.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1347242/000175392624002189/0001753926-24-002189-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.