Lixte Biotechnology Holdings, Inc. Announces Successful Closure of $1.05 Million Offering

Lixte Biotechnology Holdings, Inc., a clinical-stage pharmaceutical company, revealed on February 13, 2025, the completion of its registered direct offering totaling $1.05 million in gross proceeds. The offering included the issuance and sale of 434,784 shares of the company’s common stock, priced at $2.415 per share, as well as accompanying warrants to purchase an additional 434,784 shares of common stock. The Company concurrently conducted a private placement alongside the offering.

The Common Stock Warrants issued in the Private Offering have an exercise price of $2.29 per share and are exercisable for a period of five years from the date of issuance. It’s noted that the Common Stock Warrants and the shares of Common Stock underlying them have not been registered under the Securities Act of 1933 and have been issued in reliance on an exemption from the Act’s registration requirements.

The Registered Offering, as part of this financial move, brought gross proceeds of around $1,050,000 for the company, prior to considering the placement agent’s fees and related offering expenses. The shares issued were done so pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-278874) filed with the Securities and Exchange Commission in 2024.

In connection with the offering, Lixte Biotechnology engaged H.C. Wainwright & Co., LLC as the exclusive placement agent. The company paid the Placement Agent fees totaling 7.5% of aggregate gross proceeds, along with additional management fees and expenses.

The company emphasized that the representations, warranties, and covenants associated with the Purchase Agreement, along with engagement terms with the Placement Agent, were made for the benefit of the involved parties. The registration of the mentioned securities with the appropriate authorities is highlighted for the transparency of this transaction.

As a customary follow-up to such financial events, the associated press releases detailing the pricing and closing of the Offering were also disclosed by the Company. These releases are included in the report. Additionally, the complete details of these transactions, including the Purchase Agreement, Common Stock Warrants, and Placement Agent’s Warrants, are available in the attachments to this Form 8-K filing.

Investors and stakeholders are encouraged to refer to the complete set of documents attached to the filing for a comprehensive understanding of the proceedings.

This article does not constitute an offer to sell securities or a solicitation of an offer to buy securities. No sales should be made where such an offer might contravene securities laws.

For more information about Lixte Biotechnology Holdings, Inc., please visit the official website at www.lixte.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lixte Biotechnology’s 8K filing here.

Lixte Biotechnology Company Profile

LIXTE Biotechnology Holdings, Inc, a clinical-stage pharmaceutical company, focuses on identifying targets for cancer drug development, and developing and commercializing cancer therapies. Its lead product candidate, LB-100 is in phase 1b clinical trials combined with Atezolizumab for patients with microsatellite stable metastatic colon cancer.