Seelos Therapeutics Inc. priced an offering of common shares to raise $6.7 million in gross proceeds.
The New York-based pharmaceutical company, which is developing treatments for central nervous system disorders and other rare diseases, will sell 4,475,000 shares to certain institutional investors at $1.50 apiece to raise the amount.
Investors will also receive warrants to purchase up to 2,237,500 shares at $1.78 each.
The offering is expected to close by Aug. 27 and will help the company advance its product candidates which include SLS-004 for the treatment of Parkinson's.
Roth Capital Partners was the sole placement agent for the registered direct offering.
