On May 5, 2023 Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, reported the pricing of its public offering of 6,538,500 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 6,538,500 shares of common stock at a combined public offering price of $1.30 per share and accompanying warrant for aggregate gross proceeds of approximately $8.5 million, before deducting placement agent fees and other offering expenses (Press release, Soligenix, MAY 5, 2023, View Source [SID1234631100]). The warrants will have an exercise price of $1.50 per share, will be exercisable immediately and will expire five years from the issuance date.
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The closing of the offering is expected to occur on or about May 9, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the proceeds to fund its research and development and commercialization activities and for general corporate and working capital purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-271049) previously filed with the Securities and Exchange Commission (SEC) which became effective on May 5, 2023. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained on the SEC’s website located at View Source Electronic copies of the final prospectus relating to the offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.