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Palisade Bio Announces $2 Million Registered Direct Offering of Common Stock Priced At Market Under Nasdaq Rules
Carlsbad, CA, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI), a biopharmaceutical company advancing therapies for acute and chronic
About this update from Palisade Bio, Inc.
[{"type":"text","content":"Carlsbad, CA, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (Nasdaq: PALI), a biopharmaceutical company advancing therapies for acute and chronic gastrointestinal (GI) complications, is announcing today that it has entered into definitive agreements with institutional investors for the purchase of 2,339,398 shares of common stock for gross proceeds of $1,965,094.32 in a registered direct offering. Ladenburg Thalmann & Co. Inc. is acting as the exclusive placement agent for the registered direct offering. Palisade Bio intends to use the net proceeds from the financing for working capital and general corporate purposes. The closing of the offering is expected to take place on or about September 11, 2023, subject to the satisfaction of customary closing conditions. The shares of common stock (and pre-funded warrants in lieu thereof) offered in the registered direct offering are being offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-263705), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on April 26, 2022. The offering of the shares of common stock (and pre-funded warrants in lieu thereof) are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying base prospectus may also be obtained, when available, by contacting Ladenburg Thalmann & Co. Inc. at Attn: Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, NY 10019 or by e-mail at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. 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 resear...