Matinas BioPharma (MTNB) Prices 33.33M Share Offering at $0.35/sh

Matinas BioPharma (NYSE: MTNB) today announced it has entered into securities purchase agreements with healthcare-focused institutional investors for the purchase and sale of 33,333,334 shares of common stock, par value $0.0001 per share, and warrants to purchase up to an aggregate of 33,333,334 shares of common stock, at a combined offering price of $0.30 per share and accompanying warrant, pursuant to a registered direct offering. The warrants will have an exercise price of $0.35 per share, will be exercisable commencing six months from the date of issuance and will expire five and one-half years following the date of issuance.

The gross proceeds of the offering will be approximately $10 million before deducting fees and other estimated offering expenses. The closing of the offering is expected to take place on or about April 5, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

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