180 Life Sciences (NASDAQ: ATNF), a clinical-stage biotechnology company, today announced its entry into a definitive agreement with a single health care-focused U.S. institutional investor, for the purchase and sale of 6,132,076 shares of the company’s common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 6,132,076 shares of common stock at a purchase price per share (and accompanying warrant) of $1.06 in a registered direct offering. According to the update, the warrants will have an exercise price of $1.06 per share, will be initially exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date. Subject to the satisfaction of customary conditions, the closing of the offering is expected to occur on or about July 20, 2022. The gross proceeds from the offering are expected to be approximately $6.5 million. 180 Life Sciences intends to use the net proceeds for research and development expenses and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
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About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company. The company is driving groundbreaking studies into clinical programs, which are seeking to develop treatments for major unmet clinical needs. The company’s primary platform is a novel program to treat inflammatory disorders using anti-TNF (tumor necrosis factor). For more information, visit the company’s website at www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at http://ibn.fm/ATNF
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