Palisade Bio Announces $2 Million Registered Direct Offering of Common Stock Priced At Market Under Nasdaq Rules
07 Setembro 2023 - 9:30AM
Palisade Bio, Inc. (Nasdaq: PALI), a biopharmaceutical company
advancing therapies for acute and chronic gastrointestinal (GI)
complications, is announcing today that it has entered into
definitive agreements with institutional investors for the purchase
of 2,339,398 shares of common stock for gross proceeds of
$1,965,094.32 in a registered direct offering.
Ladenburg Thalmann & Co. Inc. is acting
as the exclusive placement agent for the registered direct
offering.
Palisade Bio intends to use the net proceeds
from the financing for working capital and general corporate
purposes.
The closing of the offering is expected to take
place on or about September 11, 2023, subject to the satisfaction
of customary closing conditions.
The shares of common stock (and pre-funded
warrants in lieu thereof) offered in the registered direct offering
are being offered and sold by the Company pursuant to a “shelf”
registration statement on Form S-3 (Registration
No. 333-263705), including a base prospectus, previously filed
with and declared effective by the Securities and Exchange
Commission (“SEC”) on April 26, 2022. The offering of the
shares of common stock (and pre-funded warrants in lieu thereof)
are being made only by means of a prospectus supplement that forms
a part of the registration statement. A final prospectus supplement
and an accompanying base prospectus relating to the registered
direct offering will be filed with the SEC and will be available on
the SEC’s website located at http://www.sec.gov. Electronic copies
of the prospectus supplement and accompanying base prospectus may
also be obtained, when available, by contacting Ladenburg
Thalmann & Co. Inc. at Attn: Prospectus Department, 640
Fifth Avenue, 4th Floor, New York, NY 10019 or by e-mail
at prospectus@ladenburg.com.
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.
About Palisade Bio
Palisade Bio is a biopharmaceutical company
focused on developing therapeutics that protect the integrity of
the intestinal barrier. The Company utilizes over three decades of
research and established science that links the role of intestinal
barrier biology with human disease to advance novel therapeutics
that target and improve the integrity of the intestinal
barrier.
The Company believes that addressing the
disruption of the intestinal barrier can fundamentally change the
way diseases are treated and establish new standards of patient
care. For more information, please go to www.palisadebio.com.
Forward Looking Statements
This communication contains “forward-looking”
statements for purposes of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements regarding the Company’s intentions,
beliefs, projections, outlook, analyses or current expectations
concerning, among other things: the extent of our cash runway; our
ability to successfully develop our licensed technologies;
estimates about the size and growth potential of the markets for
our product candidates, and our ability to serve those markets,
including any potential revenue generated; future regulatory,
judicial, and legislative changes or developments in the United
States (U.S.) and foreign countries and the impact of these
changes; our ability to build a commercial infrastructure in the
U.S. and other markets; our ability to compete effectively in a
competitive industry; our ability to identify and qualify
additional manufacturers to provide API and manufacture drug
product; our ability to enter into commercial supply agreements;
the success of competing technologies that are or may become
available; our ability to attract and retain key scientific or
management personnel; the accuracy of our estimates regarding
expenses, future revenues, capital requirements and needs for
additional financing; our ability to obtain funding for our
operations; our ability to attract collaborators and strategic
partnerships; the impact of the COVID-19 pandemic on our business,
and operations, and supply; and the anticipated use of proceeds
from the offering. Any statements contained in this communication
that are not statements of historical fact may be deemed to be
forward-looking statements. These forward-looking statements are
based upon the Company’s current expectations. Forward-looking
statements involve risks and uncertainties. The Company’s actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, the
Company’s ability to advance its clinical programs, the uncertain
and time-consuming regulatory approval process; and the Company’s
ability to achieve additional financing to fund future operations.
Additional risks and uncertainties can be found in the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2022, filed with the Securities and Exchange Commission (“SEC”) on
March 22, 2023 as well as the Company’s Quarterly Report on Form
10-Q, for the six months period ended June 30, 2023, filed with the
SEC on August 10, 2023. These forward-looking statements speak only
as of the date hereof and the Company expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based.
Investor Relations ContactJTC
Team, LLCJenene Thomas 833-475-8247PALI@jtcir.com
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