180 Life Sciences Corp. Announces $11.7 Million Private Placement
GLOBE NEWSWIRE, 19 February 2021
180 Life Sciences Corp. (NASDAQ: ATNF) (180 Life Sciences or the “Company”), a clinical-stage biotechnology company with its lead indication in Phase 2b/3, focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, today announced that it has entered into securities purchase agreements with certain institutional investors to raise approximately $11.7 million through the private placement of 2,564,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,564,000 shares of common stock at a combined purchase price of $4.55 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $5.00 per share and will expire five years from the date of issuance. The closing of the private placement is expected to occur on February 23, 2021, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreements.
