Sunshine Biopharma issues Series D warrants in $6 million public offering
SBFM•Sunshine Biopharma closed a public offering of 10,909,082 Common Units or Pre-Funded Units, each with two Series D Warrants. The offering generated about $6 million upfront, while warrant exercises could generate about $14.4 million in additional gross proceeds.
1. Offering terms
Sunshine Biopharma closed a public offering issuing 10,909,082 Common Units or Pre-Funded Units, each with two Series D Warrants. The warrants are immediately exercisable at an initial exercise price of $0.66 and expire five years from issuance.
2. Potential proceeds
Exercise of the warrants could generate about $14.4 million in additional gross proceeds, on top of about $6 million upfront.
