Pulmatrix, Inc. Announces Pricing of USD 14.4 Million Upsized Public Offering
LEXINGTON, Mass:
Pulmatrix, Inc. (Pulmatrix, the Company, we, our or us) (NASDAQ: PULM) announced the pricing of its previously announced underwritten public offering of an aggregate of 10,666,666 units at a price to the public of USD 1.35 per unit.
Each unit is comprised of one share of common stock (or common stock equivalent) and one warrant to purchase one share of common stock. In addition, the Company has granted the underwriter a 30-day option to purchase up to 1,599,999 additional shares of common stock and/or warrants to purchase 1,599,999 shares of common stock. All of the units to be sold in the offering are being offered by Pulmatrix.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Each common warrant has an exercise price of $1.35 per share, is exercisable immediately and will expire five years from the date of issuance. The shares of common stock (or common stock equivalents) and the accompanying common warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. This offering is expected to close on or about April 8, 2019, subject to customary closing conditions.
The gross proceeds of the offering are expected to be approximately $14.4 million, prior to deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to use the net proceeds of this offering for research and development of its therapeutic candidates, particularly the development of Pulmazole, as well as for working capital and general corporate purposes.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on April 3, 2019, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) relating to these securities became automatically effective upon filing. The offering was made only by means of a prospectus forming part of the effective registration statement. A final prospectus will be filed with the SEC. Electronic copies of the final prospectus relating to the offering, when available, may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC's website at http//www.sec.gov.
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 other 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 other jurisdiction.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Each common warrant has an exercise price of $1.35 per share, is exercisable immediately and will expire five years from the date of issuance. The shares of common stock (or common stock equivalents) and the accompanying common warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. This offering is expected to close on or about April 8, 2019, subject to customary closing conditions.
The gross proceeds of the offering are expected to be approximately $14.4 million, prior to deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to use the net proceeds of this offering for research and development of its therapeutic candidates, particularly the development of Pulmazole, as well as for working capital and general corporate purposes.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on April 3, 2019, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) relating to these securities became automatically effective upon filing. The offering was made only by means of a prospectus forming part of the effective registration statement. A final prospectus will be filed with the SEC. Electronic copies of the final prospectus relating to the offering, when available, may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC's website at http//www.sec.gov.
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 other 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 other jurisdiction.