Atossa Therapeutics Raises $4.5 Million, Potential $12 Million via Warrants
ATOS•Atossa Therapeutics closed a $4.5 million registered direct offering of 1,363,637 shares and Series A and B warrants, with potential for an additional $12 million upon full warrant exercise. Series warrants become exercisable in six months and expire in 5.5 and two years, with proceeds funding clinical development and working capital.
1. Registered Direct Offering
Atossa Therapeutics sold 1,363,637 shares of common stock in a registered direct offering, generating approximately $4.5 million in gross proceeds before fees. The offering included Series A and Series B warrants to purchase an equal number of shares, providing the company with immediate liquidity.
2. Warrant Structure and Terms
Series A warrants become exercisable six months after issuance and expire 5.5 years later, while Series B warrants also vest in six months but expire after two years. If fully exercised on a cash basis, the warrants could bring in up to $12 million in additional gross proceeds.
3. Allocation of Proceeds
Atossa intends to use net proceeds from the offering for ongoing clinical development of its lead product candidate, (Z)-endoxifen, as well as for working capital and general corporate purposes. The financing is designed to extend the company’s cash runway through key trial milestones.
