Summary by Futu AI
Panbela Therapeutics, Inc. has announced the issuance of up to 21,857,923 shares of common stock, along with Class E and Class F Common Warrants to purchase an equivalent number of shares. Additionally, Pre-Funded Warrants to purchase up to 21,857,923 shares of common stock are being offered. Upon exercise of these warrants, a total of 65,573,769 shares of common stock could potentially be issued. The offering is being managed by Roth Capital Partners, LLC as the lead placement agent on a reasonable best efforts basis. The pricing and terms of the securities are subject to negotiation based on market conditions at the time of the offering. The company has entered into lock-up agreements restricting the sale of shares by company executives and directors for 90 days post-offering. The proceeds from the offering are intended for the continued clinical development of Panbela's product candidates, including ivospemin and eflornithine, and for general corporate purposes. The offering is subject to customary closing conditions and regulatory approvals.