Intensity Therapeutics announces $2.35M public offering

Intensity Therapeutics (INTS) announced the pricing of its “reasonable best efforts” public offering with participation from certain new and existing institutional and accredited investors for the purchase and sale of 3,133,333 shares of its common stock and accompanying Series B-1 common warrants to purchase up to 3,133,333 shares of common stock and Series B-2 common warrants to purchase up to 3,133,333 shares of common stock at a combined purchase price per share and accompanying common warrants of 75c.The Series B-1 warrants will have an exercise price of 85c per share, will be immediately exercisable and will expire 5 years from issuance. The Series B-2 warrants will have an exercise price of 85c per share, will be immediately exercisable and will expire 18 months from issuance. The closing of the Offering is expected to occur on or about April 28, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $2.35M, before deducting placement agent fees and other estimated offering expenses payable by the company. The company intends to use the net proceeds from the Offering for the enrollment of patients in the INVINCIBLE-4 Study, for the treatment of existing patients enrolled in the INVINCIBLE-3 Study, and for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as lead placement agent for the Offering and Brookline Capital Markets, a division of Arcadia Securities, is acting as a co-placement agent for the Offering.