Palatin Technologies Announces Closing of Upsized $18.2 Million Public Offering with the Full Exercise of the Underwriters' Over-Allotment Option

Core Viewpoint - Palatin Technologies, Inc. has successfully closed a public offering of 2,795,384 shares of common stock, regaining compliance with NYSE American listing standards and resuming trading under the symbol "PTN" [1][5]. Group 1: Offering Details - The public offering included the full exercise of underwriters' option to purchase an additional 364,615 shares, with a combined public offering price of $6.50 per share [2]. - Gross proceeds from the offering were approximately $18.2 million, which may increase by an additional $18.2 million upon the potential cash exercise of Series J Warrants [3]. - The offering was led by healthcare-focused institutional investors, including participation from the Company's CEO, CFO/COO, and certain board members [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to support the development of the Company's obesity program and for working capital and general corporate purposes [4]. Group 3: Compliance and Trading Resumption - The closing of the offering allowed the Company to regain compliance with NYSE American continued listing standards under Section 1003(a)(iii) [5]. - Trading of the Company's common stock resumed on November 12, 2025, under the symbol "PTN" [1][5]. Group 4: Underwriters and Registration - A.G.P./Alliance Global Partners acted as the sole book-running manager for the offering, with Laidlaw & Company (UK) Ltd. serving as lead manager [6]. - A registration statement related to the offering was filed with the U.S. Securities and Exchange Commission and became effective on November 5, 2025 [7].