On May 16, 2024, Seelos Therapeutics, Inc., a biopharmaceutical company, announced the entry into a securities purchase agreement with certain institutional investors. The agreement involved a registered direct offering and a concurrent private placement, collectively termed the Offering. Seelos Therapeutics agreed to issue and sell 380,968 shares of common stock and pre-funded warrants to purchase up to 81,239 shares, alongside unregistered warrants to purchase up to 924,414 shares. The Offering was priced at $2.46 for each share and accompanying warrants, with the pre-funded warrants set at $2.459 each. The pre-funded warrants are exercisable immediately with an exercise price of $0.001 per share, while the common warrants have an exercise price of $2.21 per share and are exercisable immediately, expiring five years from issuance. Both types of...Show More

On May 16, 2024, Seelos Therapeutics, Inc., a biopharmaceutical company, announced the entry into a securities purchase agreement with certain institutional investors. The agreement involved a registered direct offering and a concurrent private placement, collectively termed the Offering. Seelos Therapeutics agreed to issue and sell 380,968 shares of common stock and pre-funded warrants to purchase up to 81,239 shares, alongside unregistered warrants to purchase up to 924,414 shares. The Offering was priced at $2.46 for each share and accompanying warrants, with the pre-funded warrants set at $2.459 each. The pre-funded warrants are exercisable immediately with an exercise price of $0.001 per share, while the common warrants have an exercise price of $2.21 per share and are exercisable immediately, expiring five years from issuance. Both types of warrants have beneficial ownership limitations and are subject to customary adjustments. The Offering closed on May 21, 2024, with gross proceeds of approximately $1.1 million, before fees and expenses. The net proceeds are intended for general corporate purposes, advancing product development, and repaying part of a convertible promissory note. The shares and pre-funded warrants were offered under a previously filed and effective shelf registration statement, while the common warrants were offered in a private placement exempt from registration. Seelos Therapeutics also agreed to file a registration statement for the resale of the common warrant shares by June 15, 2024. The company has agreed not to issue any additional common stock or equivalents for 45 days post-Offering, and its directors and executive officers are similarly restricted from selling company stock for the same period.