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Sunshine Biopharma, Inc. Announces Closing of $8 Million Public Offering and Uplisting to the Nasdaq Capital Market
MONTREAL, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Sunshine Biopharma, Inc. (NASDAQ: “SBFM” and “SBFMW”) (the “Company” or “Sunshine Biopharma”), a pharmaceutical
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"MONTREAL, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Sunshine Biopharma, Inc. (NASDAQ: “SBFM” and “SBFMW”) (the “Company” or “Sunshine Biopharma”), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, announced today the closing of its underwritten public offering of 1,882,353 units at a price to the public of $4.25 per unit, for aggregate gross proceeds of $8 million, prior to deducting underwriting discounts, commissions and other estimated offering expenses. Each unit consists of one share of common stock, par value $0.001 per share, and two warrants, each warrant exercisable for one share of common stock with an exercise price of $4.25. In addition, the Company has granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase additional shares of common stock and/or warrants equal up to 15% of the number of shares and warrants, respectively, sold in the offering solely to cover over-allotments, if any. The underwriter partially exercised its over-allotment option with respect to 337,494 warrants to purchase shares of common stock. At the closing, the Company issued an aggregate of 1,882,353 common shares and 4,102,200 warrants to purchase common shares. The Company’s common stock and warrants are listed on the Nasdaq Capital under the symbols “SBFM” and “SBFMW”, respectively. Aegis Capital Corp. acted as sole book-running manager for the offering. A registration statement on Form S-1 (No. 333-259394) relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on February 14, 2022. The offering has been made only by means of a prospectus. Copies of the final prospectus may be obtained on the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sunshine Biopharma Severe Acute Respiratory Syndrome-Coron...