Moleculin Biotech prices 16.08M shares at 37c in public offering

Moleculin Biotech (MBRX) announced the pricing of a public offering consisting of 16,080,000 shares of common stock and Series E warrants to purchase up to 48,240,000 shares of its common stock, at a combined public offering price per share of common stock and accompanying Series E warrants of 37c. The Series E warrants will have an exercise price of 37c per share, are exercisable upon stockholder approval, and will expire five years following the initial exercise date. The offering is expected to close on or about June 23, subject to customary closing conditions. Gross proceeds, before deducting placement agent fees and commissions and offering expenses, are expected to be approximately $5.9M. The Company intends to use the net proceeds from the offering to advance Annamycin and its other two drug portfolios through clinical development, advancing the remainder of the existing portfolio through preclinical studies and into INDs or their equivalent, sponsoring research, and for working capital. Roth Capital Partners is acting as exclusive placement agent of the offering. Maxim Group is acting as financial advisor to the Company.

Confident Investing Starts Here:

• Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions

• Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on MBRX:

Disclaimer & DisclosureReport an Issue

• Promising Developments and Regulatory Progress Drive Buy Rating for Moleculin Biotech’s Annamycin

• Moleculin Biotech’s Annamycin Pediatric Study Approved by FDA

• Moleculin Biotech receives FDA feedback on pediatric study plan for Annamycin

• Moleculin Biotech announces ‘What This Means’ virtual investor segment

• Moleculin Biotech assumed with a Buy at H.C. Wainwright