BOCA RATON, Fla., Oct. 06, 2022 (GLOBE NEWSWIRE) — First Wave BioPharma, Inc. (NASDAQ:FWBI) (“First Wave BioPharma” or the “Company”), a clinical-stage biopharmaceutical firm specializing within the growth of focused, non-systemic therapies for gastrointestinal illnesses, at present introduced the pricing of a public providing of 3,438,396 shares of its frequent inventory (or pre-funded warrants in lieu thereof) and warrants to buy as much as an combination of 3,438,396 shares of its frequent inventory at an providing worth to the general public of $1.745 per share (or pre-funded warrant in lieu thereof) and related warrant. The warrants can have an train worth of $1.62 per share, are exercisable instantly upon issuance, and can expire 5 years following the date of issuance. The closing of the providing is predicted to happen on or about October 11, 2022, topic to the satisfaction of customary closing circumstances.
H.C. Wainwright & Co. is appearing because the unique placement agent for the providing.
The gross proceeds to the Company from the providing are anticipated to be roughly $6.0 million, earlier than deducting the position agent’s charges and different providing bills payable by the Company. The Company intends to make use of the online proceeds from this providing to make the ultimate upfront fee owed to the previous stockholders of First Wave Bio, Inc. (“FWB”) pursuant to the settlement settlement between the Company and the consultant of the previous stockholders of FWB. The Company intends to make use of the remaining internet proceeds from this providing for working capital and basic company functions.
The securities described above are being provided pursuant to a registration assertion on Form S-1 (File No. 333-267423) initially filed with the Securities and Exchange Commission (“SEC”) on September 14, 2022 and have become efficient on October 6, 2022. The public providing is being made solely by means of a prospectus, which is a component of the efficient registration assertion. When accessible, digital copies of the ultimate prospectus could also be obtained totally free on the SEC’s web site situated at http://www.sec.gov and can also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, third Floor, New York, NY 10022, by cellphone at (212) 856-5711 or e-mail at [email protected].
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase any of the securities described herein, nor shall there be any sale of these securities in any state or different jurisdiction by which such provide, solicitation or sale could be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or different jurisdiction.
About First Wave BioPharma, Inc.
First Wave BioPharma is a clinical-stage biopharmaceutical firm specializing within the growth of focused, non-systemic therapies for gastrointestinal (GI) illnesses. The Company is at present advancing a therapeutic growth pipeline with a number of scientific stage applications constructed round its two proprietary applied sciences – the biologic adrulipase, a recombinant lipase enzyme designed to allow the digestion of fat and different vitamins, and niclosamide, an oral small molecule with anti-inflammatory properties. First Wave is advancing two Phase 2 scientific applications constructed round adrulipase for the remedy of exocrine pancreatic insufficiency (FW-EPI) in sufferers with cystic fibrosis (CF) and continual pancreatitis (CP). In growing adrulipase, First Wave is in search of to offer CF and CP sufferers with a secure and efficient remedy to regulate EPI that’s non-animal derived and affords the potential to dramatically cut back their every day tablet burden. The firm can also be advancing a number of applications involving niclosamide, together with FW-UP for ulcerative proctitis and ulcerative proctosigmoiditis, FW-UC for ulcerative colitis, and FW-CD for Crohn’s illness. First Wave BioPharma is headquartered in Boca Raton, Florida. For extra info go to www.firstwavebio.com.
Forward-Looking Statements
This press launch could include sure statements referring to future outcomes that are forward-looking statements. These forward-looking statements are topic to dangers and uncertainties together with, amongst different issues, the completion of the general public providing, the satisfaction of customary closing circumstances associated to the general public providing and the meant use of proceeds from the general public providing. It is feasible that the Company’s precise outcomes and monetary situation could differ, presumably materially, from the anticipated outcomes and monetary situation indicated in these forward-looking statements, relying on components together with dangers and uncertainties associated to market circumstances; whether or not outcomes obtained in preclinical and nonclinical research and scientific trials might be indicative of outcomes obtained in future scientific trials; whether or not preliminary or interim outcomes from a scientific trial might be indicative of the ultimate outcomes of the trial; whether or not the contemplated providing might be profitable and whether or not the Company will be capable of regain and keep compliance with Nasdaq’s continued itemizing standards; the dimensions of the potential markets for the Company’s drug candidates and its means to service these markets; the consequences of the First Wave Bio, Inc. acquisition, the associated settlement and their impact on the Company’s business, working outcomes and monetary prospects; and the Company’s present and future capital necessities and its means to boost extra funds to fulfill its capital wants. Additional info in regards to the Company and its business, together with a dialogue of components that would materially have an effect on the Company’s monetary outcomes are contained within the Company’s Annual Report on Form 10-Okay for the 12 months ended December 31, 2021 underneath the heading “Risk Factors,” in addition to the Company’s subsequent filings with the SEC. All forward-looking statements included on this press launch are made solely as of the date of this press launch, and we don’t undertake any obligation to publicly replace or appropriate any forward-looking statements to replicate occasions or circumstances that subsequently happen or of which we hereafter turn into conscious.
For extra info:
First Wave BioPharma, Inc.
777 Yamato Road, Suite 502
Boca Raton, FL 33431
Phone: (561) 589-7020
[email protected]
Media contact:
Tiberend Strategic Advisors, Inc.
David Schemelia
(609) 468-9325
[email protected]
