Business
Sunshine Biopharma Inc. Announces $2.46 Million Registered Direct Offering Priced at the Market Under Nasdaq Rules
FORT LAUDERDALE, FL / ACCESS Newswire / April 2, 2025 / Sunshine Biopharma Inc. (NASDAQ:SBFM) (the "Company"), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals, ...
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"FORT LAUDERDALE, FL / ACCESS Newswire / April 2, 2025 / Sunshine Biopharma Inc. (NASDAQ:SBFM) (the "Company"), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals, today announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $2.46 million of shares of Common Stock and pre-funded warrants at a price of $2.07 per share of Common Stock. The entire transaction has been priced at the market under Nasdaq rules.","length":612,"tagName":"p"},{"type":"text","content":"The offering consisted of the sale of 1,188,404 shares of Common Stock (or Pre-Funded Warrants). The offering price per Common Share is $2.07 (or $2.069 for each Pre-Funded Warrant, which is equal to the offering price per share of Common Stock to be sold in the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full.","length":444,"tagName":"p"},{"type":"text","content":"Aggregate gross proceeds to the Company are expected to be approximately $2.46 million. The transaction is expected to close on or about April 3, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering for general corporate purposes and working capital.","length":326,"tagName":"p"},{"type":"text","content":"Aegis Capital Corp. is acting as exclusive placement agent for the offering. Sichenzia Ross Ference Carmel LLP is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.","length":219,"tagName":"p"},{"type":"text","content":"The registered direct offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-284142) previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on January 15, 2025. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may...