Indaptus Therapeutics, Inc. Announces $2.25 Million Private Placement Priced At-The-Market Under Nasdaq Rules
Rhea-AI Summary
Indaptus Therapeutics (Nasdaq: INDP), a clinical stage biotechnology company, announced a $2.25 million private placement priced at-the-market under Nasdaq rules. The placement involves the issuance and sale of 2,109,383 shares of common stock and accompanying warrants to purchase an equal number of shares. Each share and warrant combination is priced at $1.065. The closing is expected around January 15, 2025, subject to customary closing conditions. The warrants, exercisable immediately at $0.94 per share, have a five-year term. Paulson Investment Company, is the exclusive placement agent for this offering. The gross proceeds are anticipated to be around $2.25 million, before deducting placement agent fees and other expenses. Indaptus plans to use the net proceeds to fund research and development, working capital, and general corporate purposes. The securities are offered under Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b) of Regulation D, not registered under the Securities Act or state securities laws, and cannot be resold in the U.S. without registration or an applicable exemption.
Positive
- Indaptus Therapeutics secures $2.25 million in gross proceeds.
- Net proceeds will fund research and development, working capital, and general corporate purposes.
Negative
- Shareholder dilution due to issuance of 2,109,383 shares and accompanying warrants.
- Warrants exercisable at $0.94 per share, which could lead to further dilution.
News Market Reaction – INDP
On the day this news was published, INDP declined 0.02%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus”), a clinical stage biotechnology company dedicated to pioneering innovative cancer and viral infection treatments, today announced that it has entered into securities purchase agreements with investors for the issuance and sale in a private placement priced at-the-market under Nasdaq rules of an aggregate of 2,109,383 of its shares of common stock and accompanying warrants to purchase up to an aggregate of 2,109,383 of its shares of common stock. The combined effective purchase price for each share of common stock and associated warrants is
The warrants will have an exercise price of
Paulson Investment Company, LLC 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
The shares of common stock and warrants to be issued in the private placement and shares issuable upon exercise of such warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Rule 506(b) of Regulation D promulgated thereunder, have not been registered under the Securities Act or applicable state securities laws and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding the gross proceeds from the private placement and anticipated use of the net proceeds. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Indaptus’ actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to risks related to market conditions. Other important factors discussed under the caption “Risk Factors” included in Indaptus’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed with the SEC on November 12, 2024, its most recent Annual Report on Form 10-K filed with the SEC on March 13, 2024, and its other filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. Indaptus undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by applicable law.
Contact: investors@indaptusrx.com
Investor Relations Contact:
CORE IR
Louie Toma
louie@coreir.com
FAQ
What is the total amount Indaptus Therapeutics will raise in the private placement?
When is the closing date for the Indaptus Therapeutics private placement?
What is the exercise price for the warrants issued by Indaptus Therapeutics?
How will Indaptus Therapeutics use the proceeds from the private placement?
What is the term of the warrants issued in the Indaptus Therapeutics private placement?
