Palisade Bio Secures $120 Million in Public Stock Offering
Palisade Bio Secures $120 Million in Public Stock Offering
Carlsbad, CA — Palisade Bio, Inc. (Nasdaq: PALI), a clinical-stage biopharmaceutical company, has successfully announced the pricing of an underwritten public offering for a total of 171,440,559 shares of common stock. Each share is priced at $0.70, providing a substantial opportunity for the company to raise significant funds to support its innovative therapeutic developments.
Details of the Offering
This public offering has been managed by Ladenburg Thalmann & Co. Inc., who is acting as the sole book-running manager. In a strategic move, Palisade has also granted underwriters a 45-day option to acquire up to an additional 25,714,285 shares, allowing flexibility in the funding approach depending on market dynamics.
Financial Impact
Expected gross proceeds from this public offering are anticipated to reach approximately $120 million, before any underwriting discounts and commissions. This financial boost is crucial for Palisade, as it empowers the company to further its mission of developing unique treatments for patients facing autoimmune conditions and other serious health challenges.
Timeline and Regulatory Compliance
While the expected closing is slated for completion soon, the actual timeline will depend on the standard closing conditions frequently observed in these offerings. Notably, a registration statement for the offering was declared effective by the Securities and Exchange Commission, ensuring that all legal prerequisites were duly satisfied before proceeding with the public offering.
Access to Prospectus
For those interested in further details regarding the offering, a preliminary prospectus can be accessed via the SEC’s website. The prospectus includes comprehensive information regarding the terms and implications of the offering, ensuring transparency for potential investors.
About Palisade Bio
Palisade Bio is at the forefront of developing innovative biopharmaceuticals targeting autoimmune, inflammatory, and fibrotic diseases. Their approach centers on introducing groundbreaking therapies that could change treatment paradigms for these conditions. Recognizing the pivotal role of advanced therapeutics, Palisade aims to harness its expertise to enhance patient outcomes significantly.
Frequently Asked Questions
What is the amount raised in the public offering by Palisade Bio?
Palisade Bio has successfully raised $120 million through its recent public stock offering.
Who is managing Palisade Bio's stock offering?
The offering is being managed by Ladenburg Thalmann & Co. Inc. as the sole book-running manager.
How many shares were offered in the public offering?
A total of 171,440,559 shares of common stock were offered at a price of $0.70 per share.
What are Palisade Bio’s therapeutic focuses?
The company primarily focuses on developing treatments for autoimmune, inflammatory, and fibrotic diseases.
Where can investors find more information about the offering?
Investors can access a preliminary prospectus on the SEC’s website for detailed information regarding the offering.
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