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Atossa Therapeutics Announces Pricing of $14.0 Million Registered Direct Offering Priced At-The-Market
SEATTLE, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS) (the “Company” or “Atossa”), a clinical-stage biopharmaceutical company
About this update from Atossa Therapeutics, Inc.
[{"type":"text","content":"SEATTLE, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS) (the “Company” or “Atossa”), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19, announced today that it has entered into a securities purchase agreement with institutional investors to purchase approximately $14.0 million of its common stock in a registered direct offering priced at-the-market under Nasdaq rules and warrants to purchase common stock in a concurrent private placement. The combined purchase price for one share of common stock and 0.75 warrants to purchase one share of common stock will be $1.00. Under the terms of the securities purchase agreement, the Company has agreed to sell 14,000,000 shares of common stock. In a private placement, which will be consummated concurrently with the Offering, the Company also has agreed to issue warrants to purchase up to an aggregate of 10,500,000 shares of common stock. The warrants will be immediately exercisable, will expire in 4 and a half years from the date of issuance and will have an exercise price of $1.00 per share. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $14.0 million before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about December 21, 2020, subject to the satisfaction of customary closing conditions. Maxim Group LLC is acting as the sole placement agent for the offering. The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333- 248555) previously filed and declared effective by the Securities and Exchange Commission (the “SEC”) on September 10, 2020. The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement. A prospectus supplement relating to the shares of common stock will be filed with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York...