180 Life Sciences announces closing of $6M registered direct offering

180 Life Sciences announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules with a single healthcare-focused U.S. institutional investor of 1,714,286 shares of the Company’s common stock and warrants to purchase up to 2,571,429 shares of common stock at a purchase price per share of $3.50. The warrants have an exercise price of $3.50 per share, are initially exercisable beginning six months following the date of issuance and expire five years from the initial exercise date. The gross proceeds from the offering are approximately $6 million. 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 UK and legal expenses. A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.