180 Life Sciences (NASDAQ: ATNF), a clinical-stage biotechnology company, today announced its entry into a definitive agreement with a health care-focused U.S. institutional investor. The agreement is for the purchase and sale of 1,570,680 shares of the company’s common stock (or common stock equivalents in lieu thereof) in a registered direct offering and warrants to purchase up to 1,570,680 shares of common stock at a purchase price per share (and accompanying warrant) of $1.91 in a concurrent private placement. The registered direct offering and private placement (together referred to as the “offering”) are priced at-the-market under Nasdaq rules. Subject to satisfaction of customary conditions, the closing of the offering is expected to occur on or about April 10, 2023. The company expects to secure approximately $3 million in gross proceeds and intends to use the net proceeds from the offering for research and development expenses and general corporate purposes, including the preparation of a marketing authorization application and legal expenses. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/MWT3r
About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company driving groundbreaking studies into clinical programs, which are seeking to address major unmet needs. The company’s primary focus is a novel program to treat inflammatory disorders using anti-TNF (tumor necrosis factor).
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at http://ibn.fm/ATNF
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