Business
Lixte Biotechnology Announces the Closing of $4.19 Million Registered Direct Offering
East Setauket, March 02, 2021 (GLOBE NEWSWIRE) -- Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT), a clinical-stage drug discovery company developing
About this update from Lixte Biotechnology Holdings, Inc.
[{"type":"text","content":"East Setauket, March 02, 2021 (GLOBE NEWSWIRE) -- Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT), a clinical-stage drug discovery company developing pharmacologically active drugs for use in cancer treatment, today announced that it has closed a registered direct offering with certain institutional and accredited investors for $4.19 million of common stock. The Company issued a total of 1,133,102 shares of common stock, at a purchase price of $3.70 per share. WestPark Capital, Inc. and WallachBeth Capital, LLC acted as co-placement agents for the offering. The gross proceeds to Lixte from this offering are expected to be approximately $4.19 million before deducting the placement agents’ fees and other offering expenses payable by Lixte. The company intends to use the net proceeds from the offering for working capital and general expenses including further development of its lead clinical compound LB-100. The shares of common stock were offered by Lixte pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-252430) previously filed with the Securities and Exchange Commission (the \"SEC\") on January 26, 2021 and declared effective by the SEC on February 5, 2021. A prospectus supplement and accompanying prospectus relating to the securities being offered have been filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC's website at http://www.sec.gov or from: WestPark Capital, Inc. - Attention: Jason Stern, 1900 Avenue of the Stars, 3rd Floor, Los Angeles, CA 90077 or by Email: [email protected] or by telephone at (310) 203-2919. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Lixte Biotechnology Holdings, Inc. Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT) is a clinical-stage pharmaceutical company dedicated to discovering drugs for more effective treatments for many forms of cancer and other serious common diseases. A major driver of cancer is defects in the switches that turn the biochemical pathways in cells o...