Offering Priced Above Market Under Nasdaq Rules
Transaction Information
Palisade Bio, Inc. (Nasdaq: PALI) announced that it has entered into definitive agreements with institutional investors to raise $6 Million through the sale of of 756,317 shares of common stock in a registered direct offering and 1,516,406 shares of common stock (or pre-funded warrants in lieu thereof) in a private placement at a purchase price of $2.64 per share. Investors also received 2,272,723 warrants, exercisable at $2.64 per warrant for five years, in the private placement. The warrants do not contain any price resets or anti-dilution provisions at a purchase price per share of $2.64.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for the registered direct and private placement offerings.
About Palisade Bio
Palisade Bio is a biopharmaceutical company focused on developing therapeutics that protect the integrity of the intestinal barrier. The Company utilizes over three decades of research and established science that links the role of intestinal barrier biology and human disease to develop novel therapeutics that target and improve the integrity of the intestinal barrier. For more information, please go to www.palisadebio.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.