First Wave Bio (FWBI) has issued an update.
First Wave BioPharma, Inc. has partnered with Roth Capital Partners, LLC to sell 275,000 shares of common stock and 91,000 pre-funded warrants, along with offering concurrent common warrants exercisable for up to 732,000 shares of common stock. Set at $2.95 per share and with pre-funded warrants at $2.9499, the arrangement aims to raise approximately $0.9 million for working capital and general corporate purposes. The offering, which includes restrictions on the company’s issuance of additional shares for specified periods, is set to close around May 14, 2024, with customary closing conditions.
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