May 06, 2024 (24/7 Market News via COMTEX) --
DENVER, Colo., May 06, 2024 (247marketnews.com)- Plus Therapeutics, Inc. (Nasdaq:PSTV) stated that it entered into a securities purchase agreement to raise up to approximately $18 million in gross proceeds, including initial upfront funding of approximately $6.5 million, and up to an additional approximately $11.5 million upon cash exercise of accompanying warrants at the election of the investors.
Plus Therapeutics will issue AIGH Capital Management LLC and new healthcare-focused institutional investors, as well as certain Company insiders, up to an aggregate of 3,238,627 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying warrants to purchase up to an aggregate of 6,477,254 shares of its common stock at a combined purchase price of $2.022 per share and accompanying warrants,
"The capital from this transaction, funded by experienced institutional investors and insiders, in conjunction with existing cash and grant support, provides the company with up to approximately $34 million in cash runway, assuming full exercise of the warrants, to support achievement of our corporate objectives," commented President and CEO, Marc Hedrick, M.D.
The post Plus Therapeutics to Raise up to $18M in Private Placement Financing appeared first on 24/7 MarketNews.
COMTEX_451982481/2900/2024-05-06T19:20:48
