Bio-Path announces closing of $1.2M registered direct offering

Bio-Path Holdings announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 375,000 shares of its common stock at a purchase price of $3.225 per share and concurrent private placement of unregistered warrants to purchase up to an aggregate of 375,000 shares of common stock. The warrants have an exercise price of $3.10 per share, are immediately exercisable and will expire five years from the date of issuance. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds to Bio-Path from the offering were approximately $1.2M, before deducting the placement agent’s fees and other offering expenses payable by Bio-Path. Bio-Path currently intends to use the net proceeds from the offering for working capital and general corporate purposes.