---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-25-000381"
form_type: "8-K"
ticker: "LIPO"
cik: "0001347242"
company_name: "LIPELLA PHARMACEUTICALS INC."
filed_at: "2025-03-03T23:59:59+00:00"
generated_at: "2026-05-25T17:05:01.811596+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lipella raises $3.79M in third closing of Series B convertible preferred offering

## Summary
- Sold 37,880 Series B convertible preferred shares at $100 each; gross proceeds $3.788M, net $3.124M after fees.
- Over-allotment partially exercised; $385,500 from over-allotment included in gross proceeds.
- Conversion price set at $3.00 or $3.13 per common share, subject to adjustment.
- Spartan Capital earned $663,960 in fees, received 441,933 Series C shares and warrants for 125,833 common shares.
- Second amendment makes Spartan's cash and stock compensation pro rata on total $7.2M across both offerings.

## SEC filing metadata
- accession: 0001753926-25-000381
- form_type: 8-K
- ticker: LIPO
- cik: 0001347242
- company_name: LIPELLA PHARMACEUTICALS INC.
- filed_at: 2025-03-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1347242/000175392625000381/0001753926-25-000381-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1347242/000175392625000381/g084716_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-25-000381
- JSON: https://secwatch.observer/filing/0001753926-25-000381.json
- Plain text: https://secwatch.observer/filing/0001753926-25-000381.txt

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