Can-Fite BioPharma (CANF) Announces $3.0 Million Registered Direct Offering of American Depositary Shares

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF), a biotechnology company advancing a pipeline of proprietary small-molecule drugs for oncological and inflammatory diseases (“Can-Fite” or the “Company”), today announced that it has entered into definitive agreements for the purchase and sale of 2,500,000 of the Company’s American Depositary Shares (“ADSs”), at a purchase price of $1.20 per ADS, in a registered direct offering. The offering is expected to close on or about April 15, 2025, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds from the, before deducting the placement agent’s fees and other offering expenses payable by the Company, are expected to be $3.0 million. Can-Fite intends to use the net proceeds for funding research and development and clinical trials and for other working capital and general corporate purposes.

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