First Wave BioPharma prices 3.285M shares at 64c in public offering

First Wave BioPharma announced the pricing of a public offering of 3,285,000 shares of its common stock and warrants to purchase up to an aggregate of 6,570,000 shares of its common stock at a combined public offering price $0.64 per share and associated warrants. Each share of common stock is being sold together with two warrants, each to purchase one share of common stock. The warrants will have an exercise price of $0.64 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about July 21, 2023, subject to the satisfaction of customary closing conditions. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $2.1M, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.