Polyrizon Ltd. announced today that it has entered into definitive agreements with institutional investors for a private placement totaling approximately $17.0 million. The offering involves the sale of 35,416,667 Ordinary Units or Pre-Funded Units, each priced at $0.48.
Each unit consists of one Ordinary Share or Pre-Funded Warrant, and one Series A Warrant to purchase an Ordinary Share with an initial exercise price of $1.20. The Pre-Funded Warrants and Series A Warrants are exercisable following shareholder approval, with Series A Warrants having a term of 30 months.
The aggregate gross proceeds to the company are expected to be approximately $17.0 million, with the transaction anticipated to close around April 1, 2025. Polyrizon plans to use the net proceeds, along with existing cash, for general corporate purposes and working capital, providing a significant financial boost for its development-stage operations.
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