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Pulmatrix, Inc. Announces Closing of $16.6 Million Upsized Public Offering
LEXINGTON, Mass., April 8, 2019 /PRNewswire/ -- Pulmatrix, Inc. ("Pulmatrix," the "Company," "we," "our" or "us") (NASDAQ: PULM) today announced the closing
About this update from Pulmatrix, Inc.
[{"type":"text","content":"LEXINGTON, Mass., April 8, 2019 /PRNewswire/ -- Pulmatrix, Inc. (\"Pulmatrix,\" the \"Company,\" \"we,\" \"our\" or \"us\") (NASDAQ: PULM) today announced the closing of its previously announced underwritten public offering of an aggregate of 1,719,554 common units and 8,947,112 pre-funded units at a price to the public of $1.35 per common unit and $1.34 per pre-funded unit, as well as the purchase of an additional 1,599,999 shares of common stock and common warrants to purchase an additional 1,599,999 shares of common stock purchased pursuant to the exercise in full of the underwriter's option to purchase additional securities. Each common unit contains one share of common stock (or, in the case of the pre-funded units, one pre-funded warrant) and one common warrant to purchase a share of common stock.\n\n \nH.C. Wainwright & Co. acted as the sole book-running manager for the offering.\nThe gross proceeds of the offering are expected to be approximately $16.6 million, including the full exercise of the underwriter's option to purchase additional securities and assuming the receipt of the proceeds from the full exercise of the pre-funded warrants, but prior to deducting underwriting discounts and commissions and other offering expenses. The Company intends to use the net proceeds of this offering for research and development of its therapeutic candidates, particularly the development of Pulmazole, as well as for working capital and general corporate purposes.\nEach common warrant has an exercise price of $1.35 per share, is exercisable immediately and will expire five years from the date of issuance. Each pre-funded warrant has an exercise price of $0.01 per share and is exercisable until all other pre-funded warrants have been exercised in full.\nA registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (\"SEC\") on April 3, 2019, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) relating to these securities became automatically effective upon filing. The offering was made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the final prospectus relating to the offering may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, ...