Protagenic therapeutics announces closing of private placement for aggregate gross proceeds of $1.275 million

New york, ny / accesswire / november 5, 2024 / protagenic therapeutics, inc. (nasdaq:ptix) ("protagenic therapeutics" or the "company"), a leader in biopharmaceutical innovation, announced today that on november 4, 2024 it closed its previously announced private placement pursuant to a purchase agreement (the "purchase agreement") for the purchase and sale of an aggregate of 1,948,295 shares of common stock, series a common stock purchase warrants to purchase an aggregate of 1,948,295 shares of common stock, with an exercise price of $0.64 per share, which are exercisable on the trading day immediately following the stockholder approval date (as defined in the purchase agreement) for a term of eighteen (18) months from the stockholder approval date, and series b common stock purchase warrants to purchase an aggregate of 1,948,295 shares of common stock with an exercise price of $0.64 per share, which are exercisable on the trading day immediately following the stockholder approval date for a term of five (5) years from the stockholder approval date. the purchase price of each share of common stock and associated common stock purchase warrants was $0.64 ($0.89 in the case of insiders).
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