Core Viewpoint - Polyrizon Ltd. has successfully closed a private placement raising approximately $17.0 million through the sale of Ordinary Shares and/or pre-funded and investor warrants at a price of $0.48 per Ordinary Unit [1][3]. Group 1: Offering Details - The offering included the sale of 35,416,667 Ordinary Units, each comprising one Ordinary Share or Pre-Funded Warrant and one Series A Warrant to purchase one Ordinary Share [2]. - The initial exercise price for each Series A Warrant is set at $1.20 per Ordinary Share, with a term of 30 months, and is subject to shareholder approval [2]. - The Pre-Funded Warrants can be exercised at any time following shareholder approval [2]. Group 2: Use of Proceeds - The net proceeds from the offering, along with existing cash, are intended for general corporate purposes and working capital [3]. Group 3: Company Overview - Polyrizon is a development-stage biotech company focused on innovative intranasal hydrogels that create a barrier against viruses and allergens in the nasal cavity [6]. - The company's proprietary technology, Capture and Contain TM, aims to function as a "biological mask" and is being further developed for drug delivery [6]. - Polyrizon is also working on an earlier-stage technology, Trap and Target ™, for nasal delivery of active pharmaceutical ingredients [6].
Polyrizon Ltd. Announces Closing of $17.0 Million Private Placement