The securities offered by the Titan Pharmaceuticals consist of Class A Units consisting of 5,100,000 shares of our Common Stock and Warrants to purchase 5,100,000 shares of Common Stock, and Class B Units consisting of 8,225 shares of our Series A Convertible Preferred Stock, with a stated value of $1,000 per share, and convertible into an aggregate of 32,900,000 shares of Common Stock, and Warrants exercisable for the number of shares of Common Stock into which the shares of Series A Convertible Preferred Stock are convertible. The Warrants will have an exercise price of $0.25, will be exercisable upon issuance and will expire five years from the date of issuance. The Company has granted the underwriters a 45-day option to purchase additional shares of Common Stock and/or additional Warrants to purchase shares of Common Stock, in amounts up to 15% of the Common Stock, Warrants and/or Common Stock issuable upon conversion of the Series A Preferred included in the Class B Units sold in the offering. A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering. CIM Securities, LLC is acting as a co-manager for the offering.
