Seelos Therapeutics (SEEL) has released an update to notify the public and investors about the unregistered sales of equity securities.
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On January 26, 2024, a company agreed to issue and sell Common Warrants for purchasing up to 3,404,256 shares of its common stock at $1.05 per share to accredited investors under a Securities Purchase Agreement. The offering closed on January 30, 2024, and was exempt from the Securities Act registration under Section 4(a)(2) and/or Rule 506 of Regulation D. The securities were acquired for investment purposes and are subject to restrictions on public resale without registration or exemption under the Securities Act.
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For a comprehensive understanding of the announcement, you can read the full document here.