Lipella Pharmaceuticals Announces $1.28 Million Registered Direct Offering of Common Stock Priced At-the-Market Under Nasdaq Rules
2024年8月1日 - 9:00PM
Lipella Pharmaceuticals Inc. (“Lipella” or the “Company”) (Nasdaq:
LIPO), a clinical-stage biotechnology company addressing serious
diseases with significant unmet need, today announced that it has
entered into a definitive agreement for the purchase and sale of an
aggregate of 2,066,000 shares of common stock (or pre-funded
warrants in lieu thereof) at a purchase price of $0.62 per share
(or pre-funded warrant in lieu thereof) in a registered direct
offering priced at-the-market under Nasdaq rules. The offering is
expected to close on or about August 1, 2024, subject to the
satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to Lipella from the offering
are expected to be approximately $1.28 million, before deducting
the placement agent’s fees and other offering expenses payable by
the Company. Lipella currently intends to use the net proceeds from
the offering for working capital and general corporate
purposes.
The securities described above are being offered
and sold by the Company pursuant to a “shelf” registration
statement on Form S-3 (Registration No. 333-276815), including a
base prospectus, previously filed with the Securities and Exchange
Commission (“SEC”) on February 1, 2024 and declared effective by
the SEC on February 8, 2024. The offering of the securities is
being made only by means of a prospectus supplement that forms a
part of such registration statement. A prospectus supplement and
accompanying base prospectus relating to the offering will be filed
with the SEC and will be available on the SEC’s website located at
http://www.sec.gov. Electronic copies of the prospectus supplement
and accompanying base prospectus may also be obtained, when
available, by contacting H.C. Wainwright & Co., LLC at 430 Park
Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711
or e-mail at placements@hcwco.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Lipella
Pharmaceuticals
Lipella is a clinical-stage biotechnology
company focused on developing new drugs by reformulating the active
agents in existing generic drugs and optimizing these
reformulations for new applications. Additionally, Lipella
maintains a therapeutic focus on diseases with significant,
unaddressed morbidity and mortality where no approved drug therapy
currently exists. Lipella completed its initial public offering in
December 2022. For more information, please
visit www.lipella.com or LinkedIn.
Forward-Looking Statements
This press release includes certain
“forward-looking statements.” All statements, other than statements
of historical fact, included in this press release regarding, among
other things, the satisfaction of the closing conditions of this
registered direct offering, our strategy, future operations,
financial position, prospects, pipeline and opportunities, sources
of growth, successful implementation of our proprietary technology,
plans and objectives are forward-looking statements.
Forward-looking statements can be identified by words such as
“may,” “will,” “could,” “continue,” “would,” “should,” “potential,”
“target,” “goal,” “anticipates,” “intends,” “plans,” “seeks,”
“believes,” “estimates,” “predicts,” “expects,” “projects” and
similar references to future periods. Forward-looking statements
are based on our current expectations and assumptions regarding
future events and financial trends that we believe may affect among
other things, the completion of the offering, the satisfaction of
customary closing conditions related to the offering, the
anticipated use of proceeds from offering, our financial condition,
results of operations, business strategy, short- and long-term
business operations and objectives, and financial needs. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. Our actual results may differ materially
from those contemplated by the forward-looking statements. We
caution you, therefore, against relying on any of these
forward-looking statements. They are neither statements of
historical fact nor guarantees or assurances of future performance.
There are risks, uncertainties and other factors, both known and
unknown, that could cause actual results to differ materially from
those in the forward-looking statements which include, but are not
limited to, regional, national or global political, economic,
business, competitive, market and regulatory conditions, and other
factors. Any forward-looking statement made by us is based upon the
reasonable judgment of our management at the time such statement is
made and speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by applicable
law. Nothing contained herein is, or shall be relied upon as, a
promise or representation as to the past or future. In addition,
the information contained in this press release is as of the date
hereof, and the Company has no obligation to update such
information, including in the event that such information becomes
inaccurate. You should not construe the contents of this press
release as legal, tax and financial advisors as to legal and
related matters concerning the matters described herein.
CONTACT Dr. Jonathan Kaufman, CEO
Lipella Pharmaceuticals Info@Lipella.com 1-412-894-1853
Jeff Ramson PCG Advisory
jramson@pcgadvisory.com
Lipella Pharmaceuticals (NASDAQ:LIPO)
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