Clinical-stage biopharmaceutical company Seelos Therapeutics (NASDAQ: SEEL) has closed a sale of 4,475,000 shares of common stock with certain institutional investors. According to the update, the offering resulted in approximately $6.7 million in total gross proceeds, with each of the shares sold at a price of $1.50. The company has also agreed to issue the investors, in a concurrent private placement, unregistered warrants to purchase up to 2,237,500 shares of common stock. The warrants have an exercise price of $1.78 per common stock share and will be exercisable six months and expire four years from the date of issuance. Seelos Therapeutics intends to use offering proceeds for general corporate purposes and to advance the development of its product candidates. ROTH Capital Partners acted as the sole placement agent for the offering.
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About Seelos Therapeutics, Inc.
Seelos Therapeutics, Inc. 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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