Galera therapeutics announces pricing of registered direct offering of $30 million of common stock and warrants

Malvern, pa., feb. 15, 2023 (globe newswire) -- galera therapeutics, inc. (nasdaq: grtx), a clinical-stage biopharmaceutical company focused on developing and commercializing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer, today announced that it has agreed to sell 14,320,000 shares of common stock and warrants to purchase up to 14,320,000 shares of common stock in a registered direct offering at a combined offering price of $2.095 per share and accompanying warrant. the warrants have an exercise price of $1.97 per share of common stock. the gross proceeds of the offering are expected to be approximately $30 million, before placement agent fees and offering expenses. all shares of common stock and warrants to purchase common stock to be sold in the offering will be sold by galera. the warrants will be exercisable immediately following their issuance and will expire five years from the date of issuance. the offering is expected to close on or about february 17, 2023, subject to customary closing conditions.
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