eFFECTOR Therapeutics (EFTR) has released an update to notify the public and investors about an entry into a material definitive agreement.
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eFFECTOR Therapeutics, Inc. has entered into a Securities Purchase Agreement with an accredited investor for a direct registered offering, including 338,000 shares of common stock and various warrants, with a total offering price of approximately $15.0 million before deductions. The offering is expected to close around January 29, 2024, with net proceeds intended for general corporate purposes and research and development funding. The agreement includes customary terms and a Beneficial Ownership Limitation for investors, and the company has appointed H.C. Wainwright & Co., LLC as the exclusive placement agent, which will receive fees and warrants as compensation. The securities are registered with the SEC but the Warrants will not be listed on any securities exchange, potentially limiting their liquidity.
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