Panbela Therapeutics (PBLA) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Panbela Therapeutics, Inc. entered into agreements with Roth Capital Partners, LLC, and certain purchasers on January 28, 2024, for a registered public offering of shares and warrants, resulting in $9.0 million in gross proceeds. The offering, expected to close on January 31, 2024, includes the sale of common stock and various warrants with fixed exercise prices and no price protection. The company has also agreed to a typical 90-day lock-up period with its executives and directors, and will pay the placement agent a cash fee and reimburse expenses. The securities are offered under a previously effective SEC registration statement, with key transaction documents filed as exhibits.
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