Indaptus to sell 1.82M shares at $1.175 in registered direct offering

Indaptus Therapeutics (INDP) has entered into securities purchase agreements with investors, including an officer of Indaptus, for the issuance and sale of an aggregate of 1,817,017 of its shares of common stock. In a concurrent private placement, Indaptus has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 1,817,017 of its shares of common stock. The combined effective purchase price for each share of common stock and associated warrants is $1.175. The warrants will have an exercise price of $1.05 per share, will be immediately exercisable upon issuance and have a term of five years from the date of issuance. The closing of the offering is expected to take place on or about November 25, 2024, subject to the satisfaction of customary closing conditions. Paulson Investment Company is acting as the exclusive placement agent in connection with the offering. The gross proceeds to Indaptus from the offering are expected to be approximately $2.135M, before deducting the placement agent’s fees and other offering expenses payable by Indaptus. Indaptus intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.