Moleculin Biotech announces pricing of $3.5M registered direct offering

Moleculin Biotech (MBRX) announced it has entered into a securities purchase agreement with an institutional investor for the purchase and sale of 3,271,029 shares of common stock — or pre-funded warrants in lieu thereof — in a registered direct offering and warrants to purchase up to 6,542,058 shares of common stock in a concurrent private placement at a combined purchase price of $1.07 per share and accompanying warrants. The warrants issued pursuant to the concurrent private placement will have an exercise price of $1.07 per share, will be exercisable upon the receipt of shareholder approval following the date of issuance and will expire 5 years from the initial exercise date. Roth Capital Partners is acting as the exclusive placement agent for the Offering. The closing of the Offering is expected to occur on or about February 26, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $3.5M before deducting placement agent fees and other offering expenses payable by the company. The company intends to use the net proceeds from the Offering for working capital and general corporate purposes.