Palisade bio announces closing of $5 million underwritten public offering priced at-market under nasdaq rules

Carlsbad, ca, dec. 13, 2024 (globe newswire) -- palisade bio, inc, (nasdaq: pali) (“palisade,” “palisade bio” or the “company”), a clinical-stage biopharmaceutical company focused on developing novel therapeutics for autoimmune, inflammatory, and fibrotic diseases, today announced the closing of its previously announced underwritten public offering for gross proceeds of approximately $5 million prior to deducting underwriting commissions and offering expenses. the offering is comprised of (i) 158,000 class a units with each unit consisting of (a) one share of common stock and (b) one common warrant to purchase one share of common stock (the “common warrants”), and (ii) 3,120,688 class b units with each unit consisting of (a) one prefunded common stock purchase warrant to purchase one share of common stock (“prefunded warrants”) and (b) one common warrant. the price per class a unit is $1.525 and the price per class b unit is $1.5249 (collectively, the “offering”).
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