Bio-path holdings announces closing of $4.0 million private placement priced at-the-market under nasdaq rules

Houston, oct. 10, 2024 (globe newswire) -- bio-path holdings, inc. (nasdaq:bpth) (“bio-path” or the “company”), a biotechnology company leveraging its proprietary dnabilize® liposomal delivery and antisense technology to develop a portfolio of targeted nucleic acid cancer drugs, today announced that it has closed its previously announced private placement priced at-the-market under nasdaq rules for the issuance and sale of an aggregate of 4,597,702 shares of its common stock (or common stock equivalents in lieu thereof), series a warrants to purchase up to 6,407,657 shares of common stock and short-term series b warrants to purchase up to 6,407,657 shares of common stock at a purchase price of $0.87 per share of common stock (or per common stock equivalent in lieu thereof) and accompanying warrants in a private placement. the series a warrants and short-term series b warrants have an exercise price of $1.00 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants (the “stockholder approval date”). the series a warrants will expire five years from the stockholder approval date and the short-term series b warrants will expire twenty-four months from the stockholder approval date.
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