Abeona therapeutics announces $35 million private placement financing

New york and cleveland, nov. 03, 2022 (globe newswire) -- abeona therapeutics inc. (nasdaq: abeo) announced today that it has entered into a securities purchase agreement to sell 7,065,946 shares of its common stock, and, in lieu of shares of common stock, pre-funded warrants exercisable for 543,933 shares of common stock, and accompanying warrants to purchase 7,609,879 shares of its common stock to a group of new and existing institutional investors in a private placement. the offering price for each share of common stock and accompanying warrant was $4.60, and the offering price for each pre-funded warrant and accompanying warrant was $4.59, which equals the offering price per share of the common stock and accompanying warrant, less the $0.01 per share exercise price of each pre-funded warrant. each accompanying warrant will represent the right to purchase one share of the company's common stock at an exercise price of $4.75 per share of common stock. the pre-funded warrants and the accompanying warrants will be exercisable immediately, and will expire five years from the date of issuance. gross proceeds of the private placement are expected to be approximately $35,000,000, before deducting placement agent fees and other expenses. the private placement is expected to close on november 7, 2022, subject to the satisfaction of customary closing conditions.
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