180 Life Sciences Corp. Announces Pricing of $3 Million Public Offering

Capital Infusion Advancement: 180 Life Sciences Corp. Sets Pricing for $3 Million Public Offering

180 Life Sciences Corp., a clinical-stage biotechnology company,  announced the pricing of a public offering of 4,615,385 shares of the Company’s common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4,615,385 shares of common stock at a purchase price per share (and accompanying warrant) of $0.65. The warrants will be immediately exercisable at an exercise price of $0.65 per share and will expire October 10, 2028. The gross proceeds from the offering are expected to be approximately $3 million, before deducting the placement agent’s fees and other offering expenses.

The closing of the offering is expected to occur on or about August 14, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for research and development expenses and general corporate purposes, including the preparation of a marketing authorization application for Dupuytren’s Contracture in the U.K., and potentially the U.S., and legal expenses.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

A registration statement on Form S-1 relating to the sale of these securities was declared effective by the Securities and Exchange Commission (the "SEC") on August 9, 2023. This offering is being made only by means of a prospectus.

In connection with the offering, the Company also has agreed to amend certain existing warrants to purchase up to an aggregate of 4,448,713 shares of common stock of the Company (the “Warrants”) such that the exercise price of the Warrants will be reduced to $0.83, effective upon the closing of the offering. The Warrants will remain exercisable and will expire on October 10, 2028.

Published on : 11th August, 2023