Polyrizon Ltd. announced today the closing of its previously announced private placement, raising approximately $17.0 million in gross proceeds. The offering involved the sale of 35,416,667 Ordinary Units or Pre-Funded Units, each priced at $0.48.
Each unit included one Ordinary Share or Pre-Funded Warrant, and one Series A Warrant to purchase an Ordinary Share. The Pre-Funded Warrants are exercisable following shareholder approval, and the Series A Warrants have an initial exercise price of $1.20 per Ordinary Share and a term of 30 months.
The company expects to utilize the net proceeds from this offering, combined with its existing cash, for general corporate purposes and working capital. This significant capital infusion provides Polyrizon with a robust financial runway to fund its ongoing research and development efforts and advance its pipeline of innovative intranasal hydrogel technologies.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.