PharmaCyte Biotech, Inc. announced a $7.0 million financing with existing investors.
The financing involves the sale of 7,000 shares of newly designated Series C convertible preferred stock.
The private placement is expected to close on or about August 19, 2025.
Strong Confidence in Future
The financing, priced at a premium to the current market price and led by existing investors, reflects strong confidence in PharmaCyte's future.
Balance Sheet Strengthening
The financing meaningfully strengthens the company's balance sheet, positioning them to enhance shareholder value and pursue strategic alternatives.
Conversion Details
The preferred stock has a conversion price of $1.00 per share of common stock and accrues a 7.0% quarterly dividend payable in cash.
- The financing enhances PharmaCyte's financial position and provides resources for future growth and strategic initiatives.
- It demonstrates investors' confidence in the company's potential and supports long-term shareholder value creation.
PharmaCyte's successful capital raise highlights investor confidence in the company's future prospects and strategic direction. The financing reinforces their position for growth and value creation in the long term.