Seelos Therapeutics (NASDAQ: SEEL), a clinical-stage biopharmaceutical company, has closed a sale of 8,865,000 shares of common stock with certain institutional investors. According to the update, Seelos Therapeutics secured approximately $7 million in gross proceeds, with each of the shares sold at the price of $0.79. The company also agreed to issue unregistered warrants to the investors to purchase up to 6,648,750 shares of common stock in a concurrent private placement. The warrants have an exercise price of $0.84 per share of common stock, exercisable six months from the date of issuance and with an expiration date five years following the initial date of exercise. Roth Capital Partners acted as sole placement agent for the offering.
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About Seelos Therapeutics Inc.
Seelos Therapeutics is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (“CNS”) disorders and other rare disorders. The company’s robust portfolio includes several late-stage clinical assets targeting psychiatric and movement disorders, including orphan diseases. Seelos is based in New York, New York. For more information, please visit www.SeelosTherapeutics.com.
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