Panbela Therapeutics (NASDAQ: PBLA), a clinical stage company developing disruptive therapeutics for the treatment of patients with urgent unmet medical needs, has closed on its previously announced public offering. The offering consisted of 2,270,000 shares of its common stock or prefunded warrants in lieu thereof as well as two classes of warrants to purchase up to 4,540,000 shares of common stock (public warrants). The offerings were at a purchase price of $3.75 per share and associated public warrants and $3.749 per prefunded warrant and associated public warrants. According to the announcement, the prefunded warrants have an exercise price of $0.001 per share. The company reported that gross proceeds from the public offering totaled an estimated $8.5 million before deducting placement agent fees, commissions and offering expenses. The company anticipates using the funds for continued clinical development of its product candidates as well as working capital, business development and other general corporate purposes. Roth Capital Partners acted as sole placement agent of the offering.
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About Panbela Therapeutics Inc.
Panbela Therapeutics is a clinical-stage biopharmaceutical company developing disruptive therapeutics for patients with urgent unmet medical needs. Panbela’s lead assets are Ivospemin (SBP-101) and Flynpovi. For more information about the company, please visit www.Panbela.com.
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