Core Viewpoint - Processa Pharmaceuticals, Inc. has announced a public offering aimed at raising funds to support its development of next-generation chemotherapeutic drugs with enhanced efficacy and safety [1][8]. Group 1: Offering Details - The public offering consists of 8,050,672 shares of common stock and accompanying Series A and Series B warrants, with a combined purchase price of $0.615 for institutional investors and $0.7975 for the CEO and certain board members [1]. - The gross proceeds from the offering are expected to be $5 million, excluding any proceeds from the exercise of the Series A and Series B warrants [3]. - The offering is anticipated to close on or about January 29, 2025, pending customary closing conditions [3]. Group 2: Warrants Information - Series A warrants will have an exercise price of $0.65 per share, exercisable upon stockholder approval and expiring five years from that date [2]. - Series B warrants will also have an exercise price of $0.65 per share, exercisable upon stockholder approval and expiring eighteen months from that date [2]. - The company plans to seek stockholder approval for the issuance of shares upon the exercise of these warrants within 90 days after the offering [4]. Group 3: Company Overview - Processa Pharmaceuticals is focused on developing Next Generation Chemotherapy (NGC) drugs that modify existing FDA-approved oncology therapies to improve safety and efficacy [8]. - The company's strategy involves combining its oncology pipeline with proven cancer-killing molecules to create more effective therapy options for cancer patients [8].
Processa Pharmaceuticals Announces Pricing of $5 Million Public Offering Priced At-The-Market Under Nasdaq Rules