FORT WORTH - TFF Pharmaceuticals, Inc. (NASDAQ:TFFP), a clinical-stage biopharmaceutical company, has announced a new registered direct offering and concurrent private placement. The company has entered into agreements for the sale of 147,500 shares of common stock at a price of $8.00 per share, with expected gross proceeds of approximately $1.2 million before fees and expenses.
The offering, which is priced at-the-market under Nasdaq rules, is scheduled to close on or about March 22, 2024, subject to customary closing conditions. TFF Pharmaceuticals has also agreed to issue unregistered warrants in a private placement.
These warrants allow for the purchase of up to an additional 147,500 shares of common stock at the same price of $8.00 per share and are immediately exercisable upon issuance. They will expire five and a half years from the date of issuance.
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The net proceeds from the offering are intended for use as working capital and for general corporate purposes, according to the company's statement.
The shares of common stock being offered have been registered under a shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (SEC) on December 12, 2023. A final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC.
The unregistered warrants and the shares of common stock underlying the warrants are being offered in a private placement under certain exemptions from registration requirements and, therefore, may not be offered or sold in the United States absent registration or an applicable exemption.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
The information in this article is based on a press release statement from TFF Pharmaceuticals, Inc.
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