Sonnet biotherapeutics announces $2.25 million registered direct offering and concurrent private placement

Princeton, nj / accesswire / june 28, 2023 / sonnet biotherapeutics holdings, inc. (nasdaq:sonn) ("sonnet" or the "company"), a biopharmaceutical company developing innovative targeted biologic drugs, today announced that it has entered into a definitive agreement with a single institutional investor for the purchase and sale of an aggregate of 5,000,000 shares of its common stock (or common stock equivalents in lieu thereof), at a purchase price of $0.45 per share of common stock (or common stock equivalent in lieu thereof), in a registered direct offering. the company has also agreed to issue to the investor, in a concurrent private placement, warrants to purchase up to an aggregate of 5,000,000 shares of common stock.
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