First Wave Bio Launches Equity Offering for Corporate Funding

First Wave Bio (FWBI) has provided an announcement.

First Wave BioPharma, Inc. has engaged in a direct offering to sell shares and pre-funded warrants, expecting to raise approximately $3.6 million for working capital and general corporate purposes. The offering, priced at $7.61 per share and $7.6099 per warrant, includes additional warrants with each purchase, exercisable immediately with a five-year expiration. The company has stipulated a no-issue period for 60 days post-offering and a one-year restriction on variable rate transactions, with closing conditions expected to be satisfied around March 6, 2024.

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