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Sunshine Biopharma, Inc. Announces Pricing of $19.5 Million Private Placement Priced At-the-Market
MONTREAL, April 26, 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, April 26, 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, today announced that it entered into a securities purchase agreement with certain institutional and accredited investors for aggregate gross proceeds of approximately $19.5 million, before deducting fees to the placement agent and other offering expenses payable by the Company. In connection with the offering, the Company will issue 4,862,845 units and pre-funded units at a purchase price of $4.01 per unit, priced at-the-market under Nasdaq rules. Each unit and pre-funded unit consist of 1 share of common stock or common stock equivalent, and 2 non-tradable warrants, each warrant exercisable for one share of common stock for $3.76 (for a total of 9,725,690 shares underlying the warrants). The warrants have a term equal to five years from the issuance date. No actual units will be issued in the offering. Assuming the exercise in full of any pre-funded warrants and none of the non-tradable warrants, the Company will have 18,885,632 shares of common stock issued and outstanding at completion of the offering. The offering is expected to close on or about April 28, 2022, subject to the satisfaction of customary closing conditions. Aegis Capital Corp. is acting as the Exclusive Placement Agent in connection with the offering. Additional details regarding the offering will be available in a Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission (the \"SEC\"). The shares of common stock and warrants described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the warrants. This press release shall not constitute an offer to sell or the solicitation of an offer...