Business
PharmaCyte Biotech, Inc. Announces $7 Million Capital Raise Led by Existing Investors
LAS VEGAS, August 18, 2025--PharmaCyte Biotech, Inc. (Nasdaq:PMCB) ("PharmaCyte" or the "Company") announced today that it has entered into a securities purchase agreement for a $7.0 million financing with existing investors involving the sale of 7,000 shares of its newly designated Series C convertible preferred stock ("preferred stock"), with a stated value of $1,000 per share, convertible into an aggregate of 7,000,000 shares of its common stock and unregistered common stock purchase warrants
About this update from Pharmacyte Biotech, Inc.
[{"type":"text","content":"LAS VEGAS, August 18, 2025--(BUSINESS WIRE)--PharmaCyte Biotech, Inc. (Nasdaq:PMCB) ("PharmaCyte" or the "Company") announced today that it has entered into a securities purchase agreement for a $7.0 million financing with existing investors involving the sale of 7,000 shares of its newly designated Series C convertible preferred stock ("preferred stock"), with a stated value of $1,000 per share, convertible into an aggregate of 7,000,000 shares of its common stock and unregistered common stock purchase warrants to purchase up to an aggregate of 7,000,000 shares of its common stock in a private placement. The private placement is expected to close on or about August 19, 2025, subject to the satisfaction of customary closing conditions.","length":775,"tagName":"p"},{"type":"text","content":"GP Nurmenkari Inc. is acting as the sole placement agent for the private placement.","length":83,"tagName":"p"},{"type":"text","content":""This financing, priced at a premium to our current market price and led by our existing investors, reflects strong confidence in PharmaCyte’s future," said Josh Silverman, Interim Chief Executive Officer of PharmaCyte. "It meaningfully strengthens our balance sheet, positions us to enhance shareholder value, and enables us to continue pursuing strategic alternatives that we believe can maximize long-term returns for our stockholders."","length":459,"tagName":"p"},{"type":"text","content":"The shares of preferred stock have a conversion price of $1.00 per share of common stock and accrue a 7.0% quarterly dividend payable in cash. The warrants have an exercise price of $1.00 per common share, are exercisable immediately and are exercisable for a term of five years from the date of issuance. The securities in the private placement were offered and sold in transactions exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. Accordingly, the shares of common stock issuable upon conversion or exercise of the preferred stock and warrants offered and sold in...