PolyPid Announces $16.2M Private Placement Of 3,371,312 Shares At $4.81/Share
Portfolio Pulse from Benzinga Newsdesk
PolyPid Ltd. has announced a private placement of 3,371,312 shares at $4.81 per share, raising $16.2 million. The placement includes new and existing investors, with notable participation from DAFNA Capital Management and Rosalind Advisors. Investors also receive warrants to purchase additional shares at $5.50, which could bring in an extra $18.5 million if exercised in full. The warrants expire in two years or upon a positive outcome from the SHIELD II Phase 3 trial of D-PLEX100.
January 04, 2024 | 9:34 pm
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POSITIVE IMPACT
PolyPid Ltd. has successfully raised $16.2 million through a private placement, which may strengthen its financial position and support its ongoing clinical trials.
The successful capital raise through a private placement is likely to be viewed positively by investors as it provides additional funds for the company's operations and clinical trials. The involvement of life sciences-focused investors suggests confidence in the company's prospects. The potential for additional funds from warrant exercises could further improve the company's financial stability.
CONFIDENCE 90
IMPORTANCE 80
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