Transaction Information
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced the closing of a follow-on offering of 2,843,750 shares of common stock (or pre-funded warrants to purchase shares of common stock in lieu of shares of common stock) and investor warrants to purchase up to an aggregate of 5,687,500 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) was sold together with two investor warrants at a combined offering price of $1.60, for total gross proceeds of approximately $4.55 million, before underwriting discounts and commissions and offering expenses payable by Sonnet. Each investor warrant is exercisable for one share of common stock at an exercise price of $1.60 per share for a period of five years from the date of issuance. The offering was led by existing investors.
Ladenburg Thalmann & Co. Inc. acted as a joint book-running manager in connection with the offering.
The securities described above were offered pursuant to a registration statement on Form S-1, as amended (File No. 333-274581), which was declared effective by the Securities and Exchange Commission (the "SEC") on October 24, 2023. The offering was made solely by means of a prospectus.
About Sonnet BioTherapeutics
Sonnet BioTherapeutics is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as FHAB™ (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment that binds to and "hitch-hikes" on human serum albumin for transport to target tissues. For more information, please visit www.sonnetbio.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.