TFF Pharmaceuticals announces $1.2M registered direct offering

TFF Pharmaceuticals announced that it has entered into definitive agreements for the purchase and sale of 147,500 shares of common stock at a purchase price of $8.00 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the company will issue unregistered warrants to purchase up to 147,500 shares of common stock at an exercise price of $8.00 per share that will be immediately exercisable upon issuance and will expire five and one-half years following the date of issuance. The closing of the offering is expected to occur on or about March 22, subject to the satisfaction of customary closing conditions. The gross proceeds to the company from the offering are expected to be approximately $1.2M before deducting placement agent fees and other offering expenses payable by the company. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.