Telomir Pharmaceuticals prices $5.6 million PIPE at $1.16 per share
TELO•Telomir Pharmaceuticals priced a $5.6 million private placement of 4,843,300 common shares at $1.16 each, a 5% discount to the applicable 10-day VWAP. Proceeds will mainly fund Telomir-Zn clinical development, including a Phase 1/2 trial in advanced or metastatic triple-negative breast cancer.
1. Private placement details
Telomir Pharmaceuticals said it priced a $5.6 million PIPE, issuing 4,843,300 common shares at $1.16 each in an unregistered private placement. The price represents a 5% discount to the applicable 10-day VWAP. The placement includes no investor warrants, convertible securities or variable-price features.
2. Proceeds and investor
The company plans to use the proceeds mainly for Telomir-Zn clinical development, including a Phase 1/2 trial in advanced or metastatic triple-negative breast cancer. John Paul DeJoria invested an additional $1 million; he previously reported holding about 3.55 million shares, or roughly 5% ownership. Telomir plans to file a resale registration statement under a registration rights agreement.
