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PRNewsWire
5 months ago
Palatin Technologies Announces Pricing of up to $23 Million Public Offering
$11.5 Million Upfront with up to an Additional $11.5 Million Upon the Cash Exercise of the Milestone Related Warrants CRANBURY, N.J. , May 7, 2025 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN) ("Palatin" or the "Company"), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, today announced the pricing of its public offering with participation from new and existing healthcare focused institutional investors along with the Company's Chief Executive Officer, Chief Financial Officer, and certain board members, including the Chair consisting of 76,666,667 shares of common stock (or common stock equivalents in lieu thereof) together with Series F warrants to purchase up to 76,666,667 shares of common stock (the "Series F Warrants"), Series G warrants to purchase up to 76,666,667 shares of common stock (the "Series G Warrants"), and Series H warrants to purchase up to 76,666,667 shares of common stock (the "Series H Warrants"), at a combined public offering price of $0.15 per share of common stock and accompanying warrants (the "Offering").