BioMedNewsBreaks – Seelos Therapeutics Inc. (NASDAQ: SEEL) Secures $7M in Registered Direct Offering
Seelos Therapeutics (NASDAQ: SEEL), a clinical-stage biopharmaceutical company, has closed a sale of 8,865,000 shares of common stock with certain institutional investors. According to the update, Seelos Therapeutics secured approximately $7 million in gross proceeds, with each of the shares sold at the price of $0.79. The company also agreed to issue unregistered warrants to the investors to purchase up to 6,648,750 shares of common stock in a concurrent private placement. The warrants have an exercise price of $0.84 per share of common stock, exercisable six months from the date of issuance and with an expiration date five years following…