BioCardia enters into purchase agreement to sell 1.13M shares at $2.336

In a regulatory filing, the company stated: “On June 21, 2023, BioCardia entered into a securities purchase agreement with certain existing investors and other institutional investors, as well as certain directors and officers of the Company, pursuant to which the Company agreed to sell and issue to the Purchasers an aggregate of 1,133,141 shares of the Company’s common stock, par value $0.001 per share, in a registered direct offering at an offering price of $2.336 per share. Certain of the Company’s directors and executive officers agreed to purchase an aggregate of 203,337 shares of Common Stock in the Offering. The Offering is expected to close on or about June 23, 2023, subject to satisfaction of customary closing conditions. The gross proceeds of the Offering will be approximately $2.6 million, before deducting placement agent fees and expenses, and offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and other general corporate purposes.”