Why 180 Life Sciences (ATNF) Stock Surged

 180 Life Sciences announced the closing of its previously announced registered direct offering priced at the market under Nasdaq rules with a single healthcare-focused U.S. institutional investor of 1,714,286 shares of the company’s common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 2,571,429 shares of common stock at a purchase price per share (and accompanying warrant) of $3.50.

These warrants have an exercise price of $3.50 per share, are initially exercisable beginning six months following the date of issuance and expire five years from the initial exercise date.

Proceeds: The gross proceeds from the offering are approximately $6 million. And the company plans to use the net proceeds from the offering for research and development expenses and general corporate purposes, including the preparation of a marketing authorization application for Dupuytren’s contracture in the UK and legal expenses.

Agent: A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.

https://pulse2.com/why-the-180-life-sciences-atnf-stock-surged-over-50/