Panbela Therapeutics Inc. (PBLA) Prices Approximately $6 Million Public Offering

Panbela Therapeutics, Inc. (Nasdaq: PBLA), (“Panbela” or the “Company”), a clinical stage company developing disruptive therapeutics for the treatment of patients with urgent unmet medical needs, today announced the pricing of a public offering of (i) 20,100,000 shares of its common stock (or pre-funded warrants in lieu thereof) and (ii) warrants to purchase up to 30,150,000 shares of its common stock (the “Public Warrants”) at a purchase price of $0.30 per share and associated Public Warrant. The Public Warrants will have an exercise price of $0.30 per share, are exercisable upon issuance, and will expire five years following the date of issuance. The offering is expected to close on or about October 4, 2022, subject to customary closing conditions.

Roth Capital Partners, LLC is acting as lead placement agent, Craig-Hallum Capital Group LLC and Maxim Group LLC are each acting as co-placement agent of the offering.

Gross proceeds, before deducting placement agent fees and commissions and offering expenses are expected to be approximately $6 million. The Company intends to use the net proceeds from the proposed offering for the continued clinical development of its product candidates ivospemin (SBP-101) and eflornithine (CPP-1X), working capital, business development and other general corporate purposes, which may include repayment of debt.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-267000), as amended, that was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on September 29, 2022. Copies of the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, at the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 or by email at [email protected].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any 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 registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

You May Also Be Interested In

• Global Water Resources raises $20M through stock sale and credit line
• Daxor reports 16% kit sales growth in first half of 2026
• Public Storage completes $1.2B acquisition of PS Canada