Plus Therapeutics, Inc. announced on March 4, 2025, the pricing of a private placement expected to generate approximately $15.0 million in gross proceeds. This financing is intended to strengthen the company's ability to rapidly advance its CNS cancer therapies.
The offering consists of 28,042,140 common units or pre-funded units, priced at $0.66 per common unit. It includes Series A warrants with an initial exercise price of $1.32 per share and Series B warrants with an initial exercise price of $1.98 per share.
A portion of the proceeds, approximately $5.3 million, will come from the cancellation of previously issued outstanding senior convertible promissory notes. The funds will be held in escrow, contingent on Nasdaq confirming the company will not be delisted by March 31, 2025.
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