Seelos Therapeutics (SEEL) Prices 8.865M Share Registered Direct Offering at $0.79/Sh

Seelos Therapeutics, Inc. (NASDAQ: SEEL) announced today that it has entered into a securities purchase agreement with certain institutional investors, providing for the purchase and sale of 8,865,000 shares of common stock at a price of $0.79 per share in a registered direct offering, resulting in gross proceeds of approximately $7.0 million, before deducting the placement agents' fees and estimated offering expenses. The Company also agreed to issue to the investors unregistered warrants to purchase up to 6,648,750 shares of common stock in a concurrent private placement. The warrants have an exercise price of $0.84 per share of common stock, will be exercisable six months from the date of issuance and will expire five years following the initial date of exercise.

The registered direct offering and concurrent private placement are expected to close on or about September 9, 2020, subject to the satisfaction of customary closing conditions.

Seelos intends to use the net proceeds from the offering for general corporate purposes and to advance the development of its product candidates.

Roth Capital Partners is acting as the sole placement agent for the offering.

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