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180 Life Sciences | 424B3: Prospectus

SEC ·  Feb 28 19:42
Summary by Futu AI
180 Life Sciences Corp. has filed a prospectus supplement on February 28, 2024, to update and amend its previous prospectus dated May 12, 2023. The supplement includes information from the company's Current Reports filed on February 20, 26, and 28, 2024, with the SEC. A significant update disclosed is the 1-for-19 reverse stock split of the company's common stock, effective as of 12:01 A.M. Eastern Time on February 28, 2024. The last reported sale price of the company's common stock on Nasdaq was $0.195 per share on February 27, 2024. Additionally, the company has won a Motion for Partial Summary Judgment against its insurers, AmTrust and Freedom, which are now required to advance defense costs related to SEC subpoenas to the company's former executives. The trial is scheduled for May 12, 2025. Furthermore, the company announced the exercise of pre-funded warrants resulting in the issuance of 1,111,878 shares of common stock. Post-issuance, the company will have 11,270,710 shares of common stock outstanding. The reverse stock split is intended to help the company meet Nasdaq's minimum bid price requirement for continued listing.
180 Life Sciences Corp. has filed a prospectus supplement on February 28, 2024, to update and amend its previous prospectus dated May 12, 2023. The supplement includes information from the company's Current Reports filed on February 20, 26, and 28, 2024, with the SEC. A significant update disclosed is the 1-for-19 reverse stock split of the company's common stock, effective as of 12:01 A.M. Eastern Time on February 28, 2024. The last reported sale price of the company's common stock on Nasdaq was $0.195 per share on February 27, 2024. Additionally, the company has won a Motion for Partial Summary Judgment against its insurers, AmTrust and Freedom, which are now required to advance defense costs related to SEC subpoenas to the company's former executives. The trial is scheduled for May 12, 2025. Furthermore, the company announced the exercise of pre-funded warrants resulting in the issuance of 1,111,878 shares of common stock. Post-issuance, the company will have 11,270,710 shares of common stock outstanding. The reverse stock split is intended to help the company meet Nasdaq's minimum bid price requirement for continued listing.
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