Timber pharmaceuticals announces pricing of $15 million public offering

Basking ridge, nj, nov. 03, 2021 (globe newswire) -- via  newmediawire --timber pharmaceuticals, inc. (“timber” or the “company”) (nyse american: tmbr), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced the pricing of its previously announced underwritten public offering of 23,437,500 shares of its common stock (or common stock equivalents) and accompanying warrants to purchase up to an aggregate of 23,437,500 shares of common stock. each share of common stock (or common stock equivalent) is being sold together with one warrant to purchase one share of common stock at a combined public offering price of $0.64 per share of common stock and accompanying common warrant, less underwriting discounts and commissions. the warrants have an exercise price of $0.70 per share, are exercisable immediately, and will expire five years following the date of issuance.
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