Business
Sunshine Biopharma Inc. Announces Closing of up to $18.0 Million Public Offering
$6.0 million upfront with up to an additional approximately $12.0 million of potential aggregate gross proceeds upon the exercise in full of warrants. FORT
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"$6.0 million upfront with up to an additional approximately $12.0 million of potential aggregate gross proceeds upon the exercise in full of warrants. FORT LAUDERDALE, FL / ACCESS Newswire / May 19, 2026 / Sunshine Biopharma Inc. (NASDAQ:SBFM) (the \"Company\"), a pharmaceutical company offering and developing life‑saving medicines across oncology, antivirals, and other key therapeutic areas, today announced the closing of its previously announced public offering made on a reasonable best efforts basis with gross proceeds to the Company of approximately $6.0 million, before deducting placement agent fees and other offering expenses payable by the Company.The offering consisted of 12,000,000 Common Units (or Pre-Funded Units), each consisting of (i) one (1) share of Common Stock or one (1) Pre-Funded Warrant and (ii) two (2) Series C Warrants to purchase one (1) share of Common Stock per warrant at an initial exercise price of $0.50. The public offering price per Common Unit was $0.50 (or $0.49999 per Pre-Funded Unit, which is equal to the public offering price per Common Unit sold in the offering minus an exercise price of $0.00001 per share under the Pre-Funded Warrants). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until exercised in full. The Series C Warrants are exercisable immediately and expire five years after the initial issuance date. The exercise price and number of shares issuable under the Series C Warrants are subject to adjustment as described in more detail in the final prospectus filed in connection with the offering.Gross proceeds to the Company were approximately $6.0 million. The potential additional gross proceeds to the Company from the Series C Warrants, if fully-exercised on a cash basis, will be approximately $12.0 million. No assurance can be given that any of warrants will be exercised. The Company expects to use the net proceeds from the offering for general corporate purposes and working capital.Aegis Capital Corp. acted as the exclusive placement agent for the offering. Sichenzia Ross Ference Carmel LLP acted as counsel to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.A registration statement on Form S-1 (No. 333-295800) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") on May 12, 2026 was declared ef...