LIXTE Biotechnology Announces Closing of $3.5 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market under Nasdaq Rules
20 Julio 2023 - 3:05PM
LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT and LIXTW)
(“LIXTE” or the “Company”) today announced the closing of its
previously announced registered direct offering of 583,334 shares
of common stock (or common stock equivalents in lieu thereof) and
concurrent private placement of common warrants to purchase up to
583,334 shares of common stock (together with the registered direct
offering, the “Offering”) at a purchase price of $6.00 per common
share, priced “at-the-market” under Nasdaq rules. The common
warrants issued pursuant to the concurrent private placement have
an exercise price of $6.00 per share, are exercisable immediately
upon issuance and will expire 5 years from issuance.
The gross proceeds from the offering were
approximately $3,500,000, excluding any proceeds that may be
received upon the exercise of the warrants and before deducting
placement agent fees and other offering expenses payable by the
Company.
A.G.P./Alliance Global Partners acted as sole placement agent
for the Offering.
The common stock and common stock equivalents in
lieu thereof were issued in a registered direct offering pursuant
to an effective shelf registration statement on Form S-3 (File No.
333-252430) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”), under the Securities Act of 1933, as
amended (the “Securities Act”), and declared effective by the SEC
on February 5, 2021. The common warrants were issued in a
concurrent private placement. A prospectus supplement describing
the terms of the proposed registered direct offering was filed with
the SEC and is available on the SEC’s website located
at http://www.sec.gov. Electronic copies of the prospectus
supplement may be obtained from A.G.P./Alliance Global Partners,
590 Madison Avenue, 28th Floor, New York, New York 10022, or by
telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
The private placement of the common warrants was
made in reliance on an exemption from registration under Section
4(a)(2) of the Securities Act and/or Regulation D thereunder.
Accordingly, the securities issued in the concurrent private
placement may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act
and such applicable state securities laws.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About LIXTE Biotechnology
Holdings, Inc.
LIXTE Biotechnology Holdings, Inc. is a
clinical-stage pharmaceutical company focused on new targets for
cancer drug development and developing and commercializing cancer
therapies. LIXTE has achieved a breakthrough demonstrating that its
first-in-class lead clinical PP2A inhibitor, LB-100, is
well-tolerated in cancer patients at doses associated with
anti-cancer activity. Based on extensive published preclinical data
(see www.lixte.com), LB-100 has the potential to significantly
improve outcomes for patients undergoing various chemotherapies or
immunotherapies. LIXTE's new approach has no known competitors and
is covered by a comprehensive patent portfolio. Initial
proof-of-concept clinical trials are in progress.
Forward-Looking Statements
This announcement contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Exchange
Act of 1934. For example, statements regarding the Company's
financial position and business strategy are forward-looking
statements. These statements are generally accompanied by words
such as "intend," anticipate," "believe," "estimate,"
"potential(ly)," "continue," "forecast," "predict," "plan," "may,"
"will," "could," "would," "should," "expect" or the negative of
such terms or other comparable terminology. The Company believes
that the assumptions and expectations reflected in such
forward-looking statements are reasonable, based on information
available to it on the date hereof, but the Company cannot provide
assurances that these assumptions and expectations will prove to
have been correct or that the Company will take any action that the
Company may presently be planning. However, these forward-looking
statements are inherently subject to known and unknown risks and
uncertainties. Actual results or experience may differ materially
from those expected or anticipated in the forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, regulatory policies,
available cash resources, research results, competition from other
similar businesses, and market and general economic factors. This
discussion should be read in conjunction with the Company's filings
with the United States Securities and Exchange Commission
at http://www.sec.gov/edgar.shtml.
For more information about
LIXTE, contact:
info@lixte.comGeneral Phone: (631) 830-7092Investor Phone: (888)
289-5533
or
PondelWilkinson Inc. Investor
Relationspwinvestor@pondel.comRoger Pondel: (310) 279-5965Laurie
Berman: (310) 279-5962
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