On January 14, 2019 Bio-Path Holdings, Inc., (Nasdaq: BPTH) (Bio-Path), a biotechnology company leveraging its proprietary DNAbilize antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs, reported the pricing of an underwritten public offering of 8,592,308 shares of its common stock at a price to the public of $0.13 per share (Press release, Bio-Path Holdings, JAN 14, 2019, View Source [SID1234532674]). Bio-Path expects to receive aggregate gross proceeds of approximately $1.1 million from the offering. The offering is expected to close on or about January 17, 2019, subject to the satisfaction of customary closing conditions.
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H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Bio-Path currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
A shelf registration statement on Form S-3 (Registration No. 333-215205) relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on January 9, 2017. A preliminary prospectus supplement describing the terms of the offering was filed with the SEC on January 14, 2019, and is available on the SEC’s website at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing [email protected] or at the SEC’s website at View Source
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement