Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on developing, manufacturing and commercializing innovative inflammation and immunology (I&I) biological products primarily for the treatment of autoimmune and infectious diseases, has closed on a registered direct offering of 1,146,552 of the company’s American Depositary Shares (“ADSs”). According to the announcement, each ADS represented four hundred ordinary shares offered at $1.16 per ADS (or ADS equivalent). The announcement noted that SCNI also issued unregistered warrants in a concurrent private placement comprised of up to 1,146,552 ADSs representing ordinary shares. The warrants have an exercise price of $1.16 per ADS and are immediately exercisable for five and one-half years. The registered direct offering resulted in an estimated $1.33 million before deductions and expenses. The company plans to use the net proceeds for general working capital, R&D, and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
To view the full press release, visit https://ibn.fm/PdL14
About Scinai Immunotherapeutics Ltd.
Scinai Immunotherapeutics is a biopharmaceutical company focused on developing, manufacturing and commercializing innovative inflammation and immunology (“I&I”) biological products primarily for the treatment of autoimmune and infectious diseases. With a state-of-the-art facility for biopharmaceutical product development and manufacturing along with highly experienced pharmaceutical industry leadership, Scinai offers end-to-end boutique CDMO services in parallel to developing its own pipeline of diversified and commercially viable products and platforms beginning with an innovative nanosized VHH antibody, or NanoAb, pipeline targeting diseases with large unmet medical needs. For more information, visit the company’s website at www.Scinai.com.
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://ibn.fm/SCNI
About QualityStocks
QualityStocks (“QS”) is a specialized communications platform with a focus on private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, QS is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, QS brings its clients unparalleled recognition and brand awareness. QS is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-published: https://www.QualityStocks.com/Disclaimer
QualityStocks
Scottsdale, AZ
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
QualityStocks is powered by IBN
No comments:
Post a Comment