Lixte Biotechnology Holdings, Inc. Announces Closing of Public Offering and Uplisting to Nasdaq
01 Dicembre 2020 - 6:30PM
Lixte Biotechnology Holdings, Inc. (“Lixte” or the “Company”)
(Nasdaq: Common stock – LIXT; Warrants – LIXTW), a drug discovery
company that uses biomarker technology to identify enzyme targets
associated with cancer and other serious common diseases and then
designs novel compounds to attack those targets, today announced
that it closed a public offering of 1,200,000 units of securities
at an offering price of $4.75 per unit for total gross proceeds of
$5.7 million, before deducting underwriting discounts and
commissions and other estimated offering expenses and before any
exercise of the underwriters’ overallotment option. Each unit
consists of one share of common stock and one warrant to purchase
one share of common stock at an exercise price of $5.70 per share.
In addition, Lixte has granted the underwriters a 45-day option to
purchase up to 180,000 additional shares of the Company's common
stock and/or up to 180,000 additional warrants to purchase shares
of the Company's common stock, or any combination thereof, to cover
overallotments, if any.
The shares and warrants were immediately
separable, were issued separately, and began trading on The Nasdaq
Capital Market on Wednesday, November 25, 2020, under the symbols
“LIXT” and “LIXTW”, respectively.
WestPark Capital, Inc. and WallachBeth Capital,
LLC acted as the joint book-running managers for the offering.
TroyGould PC acted as the Company's legal counsel
and Sheppard, Mullin, Richter & Hampton, LLP acted
as legal counsel for the joint book-running managers.
About Lixte Biotechnology Holdings, Inc.
Lixte Biotechnology Holdings, Inc. is a drug
discovery company that uses biomarker technology to identify enzyme
targets associated with cancer and other serious common diseases
and then designs novel compounds to attack those targets. Lixte’s
product pipeline is primarily focused on inhibitors of protein
phosphatases, used alone and in combination with cytotoxic agents
and/or x-ray and immune checkpoint. The Company believes the
phosphatase inhibitors have broad therapeutic potential not only
for cancer but also for other debilitating and life-threatening
diseases. Additional information about Lixte Biotechnology
Holdings, Inc. is available at www.lixte.com.
This offering is being made pursuant to an
effective registration statement on Form S-1 (No. 333-248588)
previously filed with the U.S. Securities and Exchange Commission
(the "SEC") and declared effective by the SEC on November 24, 2020.
A final prospectus describing the terms of the proposed offering
was filed with the SEC and may be obtained via the SEC's website at
www.sec.gov or from: WestPark Capital, Inc. - Attention: Jason
Stern, 1900 Avenue of the Stars, 3rd Floor, Los Angeles, CA 90077
or by Email: syndicate@wpcapital.com, or by telephone at (310)
203-2919.
This press release does 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
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that state or jurisdiction.
Forward-Looking Statements
This announcement contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Exchange
Act of 1934. For example, statements regarding the Company's
financial position, business strategy and other plans and
objectives for future operations, and assumptions and predictions
about future product demand, supply, manufacturing, costs,
marketing and pricing factors are all forward-looking statements.
These statements are generally accompanied by words such as
"intend," anticipate," "believe," "estimate," "potential(ly),"
"continue," "forecast," "predict," "plan," "may," "will," "could,"
"would," "should," "expect" or the negative of such terms or other
comparable terminology. The Company believes that the assumptions
and expectations reflected in such forward-looking statements are
reasonable, based on information available to it on the date
hereof, but the Company cannot provide assurances that these
assumptions and expectations will prove to have been correct or
that the Company will take any action that the Company may
presently be planning. However, these forward-looking statements
are inherently subject to known and unknown risks and
uncertainties. Actual results or experience may differ materially
from those expected or anticipated in the forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, regulatory policies,
available cash, research results, competition from other similar
businesses, and market and general economic factors. This
discussion should be read in conjunction with the Company's filings
with the U.S. Securities and Exchange Commission at
www.sec.gov.
Lixte Contact:info@lixte.com(631) 830-7092
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