Lixte Biotechnology to sell 583,334 shares at $6.00 in registered direct offerin

LIXTE Biotechnology entered into a securities purchase agreement with a single health-care focused, institutional investor for the purchase and sale of 583,334 shares of common stock in a registered direct offering and common warrants to purchase up to 583,334 shares of common stock in a concurrent private placement at a purchase price of $6.00 per common share, priced “at-the-market” under Nasdaq rules. The common warrants issued pursuant to the concurrent private placement will have an exercise price of $6.00 per share, will be exercisable immediately upon issuance and will expire 5 years from issuance. The closing of the Offering is expected to occur on or about July 20, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $3,500,000, excluding any proceeds that may be received upon the exercise of the warrants and before deducting placement agent fees and other offering expenses payable by the Company. A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering.