Blue water biotech announces closing of warrant exercise and issuance of new warrants in a private placement for $2.7 million gross proceeds

Cincinnati, aug. 03, 2023 (globe newswire) -- blue water biotech, inc. (“blue water” or the “company”) (nasdaq: bwv), today announced the closing of its previously announced exercise of certain existing warrants to purchase 2,486,214 shares of its common stock at a reduced exercise price of $1.09 per share, in exchange for new warrants as described below. the aggregate gross proceeds from the exercise of the existing warrants were approximately $2.7 million, before deducting placement agent fees and other offering expenses payable by the company.
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