Moleculin Biotech announces $15M registered direct offering
Moleculin Biotech announced that it has entered into definitive agreements with institutional investors to purchase an aggregate of 9.375M units at a public offering price of $1.60 per unit in a registered direct offering. Each unit is comprised of one share of common stock and 0.5 of a warrant to purchase one share of common stock. Each warrant will have an exercise price of $1.75 per share and is exercisable immediately. The warrants will expire five years from the date of issuance. The shares of common stock and the accompanying 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. The offering is expected to close on or about April 25, subject to customary closing conditions. The gross proceeds of the offering are expected to be approximately $15M, prior to deducting the placement agent fees and other estimated offering expenses. Oppenheimer & Co. is acting as the sole placement agent for the offering. Roth Capital Partners and Maxim Group are acting as financial advisors to the company.