Bio-Path Holdings Announces $4M At-The-Market Offering at $0.87 Per Share

Bio-Path Holdings has announced a significant financial move with the pricing of a $4.0 million at-the-market offering. The company has entered into definitive agreements to issue and sell a total of 4,597,702 shares of its common stock. Additionally, Bio-Path is offering series A warrants to purchase up to 6,407,657 shares of common stock and short-term series B warrants for the same number of shares. Each share of common stock, or its equivalent, is priced at $0.87, with the warrants included in a private placement that complies with Nasdaq's at-the-market pricing rules.

The series A and series B warrants are priced with an exercise price of $1.00 per share. They will become exercisable upon the effective date of stockholder approval for the issuance of shares upon warrant exercise, known as the Stockholder Approval Date. The series A warrants are set to expire five years from this date, while the series B warrants have a shorter expiration period of twenty-four months.

The closing of this offering is anticipated to occur around October 10, 2024, pending the satisfaction of customary closing conditions. H.C. Wainwright & Co. is serving as the exclusive placement agent for this offering, facilitating the transaction and ensuring compliance with financial regulations.