Titan Pharmaceuticals, Inc. announced on June 27, 2025, the completion of another private placement, securing $600,000 through the sale of its newly designated Series C Convertible Preferred Stock. Blue Harbour Asset Management L.L.C-FZ was the purchaser, acquiring 60,000 shares of the Preferred Stock. This transaction further bolsters the company's financial resources.
The Series C Preferred Stock has a conversion price of $3.40 per share. Similar to the previous private placement, this stock includes a beneficial ownership conversion "blocker" to comply with Nasdaq rules, limiting Blue Harbour's potential common stock ownership. The shares were sold in reliance on Regulation S of the Securities Act of 1933.
This additional capital infusion contributes to Titan's liquidity as it continues to pursue its strategic transformation, including the proposed reverse merger with TalenTec. The company's ability to raise further funds indicates ongoing efforts to maintain financial stability during this transitional period.
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