Palatin Technologies Inc (PTN) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Palatin Technologies, Inc. entered into an agreement to sell over 1.8 million shares of common stock and an equal number of private warrants in a combined offering, with H.C. Wainwright & Co. as the exclusive placement agent. The offering, priced at $5.46 per share and warrant, closed with net proceeds of approximately $9.2 million, intended for general working capital. The agreement includes terms such as customary closing conditions, indemnification obligations, and restrictions on additional securities sales by the company. The offering was part of a shelf registration statement and included forward-looking statements subject to market and business risks detailed in the company’s SEC filings.
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For a comprehensive understanding of the announcement, you can read the full document here.