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FORT COLLINS, Colo., Feb. 09, 2022 (GLOBE NEWSWIRE) — Statera Biopharma, Inc. (NASDAQ:STAB) (the “Company” or “Statera Biopharma”), a leading biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis, today announced the closing of its previously announced registered direct offering with a certain institutional investor, pursuant to which the Company sold $2.0 million worth of its common stock and warrants.
Under the terms of the securities purchase agreement, the Company sold approximately 2.0 million shares of its common stock and warrants to purchase approximately 2.0 million shares of common stock. The warrants will be exercisable immediately, have an exercise price of $1.00 per share, and will expire five years from the initial exercise date. The purchase price for one share of common stock and one warrant was $1.00.
This financing will be used for general corporate purposes, including the Company’s Phase 3 pediatric Crohn’s study, its acute COVID study, as well as other development activities.
EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the offering. Bridgeway Capital Partners acted as the Company’s financial advisor.
Anthony LG, PLLC acted as legal counsel to Statera Biopharma, Inc. and Carmel, Milazzo & Feil LLP acted as legal counsel to EF Hutton for the offering.
The securities described above were offered by the Company pursuant to an effective “shelf” registration statement on Form S-3 (File No. 333-238578) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on May 29 , 2020, and the accompanying prospectus contained therein.
The offering…
Full story available on Benzinga.com
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