Lixte Biotechnology Holdings, Inc. announced a registered direct offering with accredited investors for approximately $4.3 million.
The offering includes shares of Common Stock and pre-funded and investor warrants priced at $4.09 per Common Unit.
Aggregate gross proceeds to the Company are expected to be approximately $4.3 million.
The Registered Direct Offering enables Lixte Biotechnology Holdings, Inc. to directly issue securities to investors, bypassing traditional underwriters.
Registered Direct Offering
The Registered Direct Offering priced at $4.09 per Common Unit complies with Nasdaq rules, providing a streamlined capital-raising avenue for the company.
Transaction Details
In this offering, Lixte Biotechnology Holdings, Inc. sold 1,051,342 Common Units (or Pre-Funded Units), indicating investor appetite for the company's securities at the offered price.
Use of Proceeds
The funds raised in the offering are earmarked for general corporate purposes and working capital, facilitating operational growth and innovation within the organization.
Placement Agent
Spartan Capital Securities, LLC has been appointed as the exclusive placement agent for the offering, responsible for facilitating the transaction between the company and investors.
- The infusion of $4.3 million from the offering will fortify Lixte Biotechnology Holdings, Inc.'s financial resilience, enabling strategic investments in research, development, and commercialization activities.
- The successful execution of the offering signals investor confidence in LIXT's business model, technology, and growth potential, potentially enhancing market sentiment towards the company's stock.
By leveraging the Registered Direct Offering, Lixte Biotechnology Holdings, Inc. has strategically secured critical funding to support its mission of advancing cancer treatments, while simultaneously strengthening its financial position and investor relations.