Business
Sunshine Biopharma, Inc. Announces Pricing of $8 Million Public Offering and Uplisting to the Nasdaq Capital Market
MONTREAL, Feb. 15, 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. 15, 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 pricing 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. The common stock and warrants are immediately separable from the Units and will be issued separately. The warrants are exercisable immediately, expire five years from the date of issuance and have 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 purchase price to be paid per additional share of common stock will be equal to the public offering price of one unit (in each case, less $0.01 allocated to the warrants), less the underwriting discount. The purchase price to be paid per additional warrant will be $0.01. If Aegis exercises the option to purchase only such warrants, additional proceeds will be nominal. If Aegis exercises the option in full for common stock and warrants, the total gross proceeds of the offering including the overallotment are expected to be approximately $9.2 million before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on or about February 17, 2022, subject to customary closing conditions. The Company also announced that, in connection with the offering, its common stock and warrants have been approved for listing on the Nasdaq Capital Market and will begin trading on the Nasdaq Capital Market under the symbols \"SBFM\" and “SBFMW” on February 15, 2022. Aegis Capital Corp. is acting 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 offe...