WestPark Capital Announces Completion of $5.8 Million Registered Direct Offering Priced At-The-Market for Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT)
April 13 2022 - 9:00AM
Business Wire
WestPark Capital, Inc., a full-services investment bank and
securities broker-dealer, today announced the completion of a
Registered Direct Offering for Lixte Biotechnology Holdings, Inc.
(Nasdaq: LIXT), a clinical-stage drug discovery company developing
pharmacologically active drugs for use in cancer treatment with
certain institutional investors for $5.8 million of common stock.
The Company issued a total of 2,900,000 shares of common stock, at
a purchase price of $2.00 per share.
WestPark Capital, Inc. acted as Co-Lead Placement Agent for the
offering.
The shares of common stock are being offered by Lixte pursuant
to a "shelf" registration statement on Form S-3 (File No.
333-252430) previously filed with the Securities and Exchange
Commission (the "SEC") on January 26, 2021 and declared effective
by the SEC on February 5, 2021. The offering of the securities will
be made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration
statement.
A prospectus supplement and accompanying prospectus relating to
the securities being offered will be filed with the SEC. Electronic
copies of the final prospectus supplement and accompanying
prospectus may be obtained, when available, on the SEC's website at
http://www.sec.gov or from: WestPark Capital, Inc. - Attention:
Jason Stern, 1900 Avenue of the Stars, 3rd Floor, Los Angeles, CA
90077 or by Email: syndicate@wpcapital.com or by telephone at (310)
203-2919.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
complete information about the Company and the Offering. This press
release does not constitute an offer to sell, or the solicitation
of an offer to buy any of the Company's securities, nor shall such
securities be offered or sold in the United States absent
registration or an applicable exemption from registration, nor
shall there be any offer, solicitation or sale of any of the
Company's securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
About WestPark Capital, Inc.
WestPark Capital is a full-service investment bank focused on
emerging growth sectors such as healthcare, software, technology,
biotechnology, financial services, manufacturing, consumer
products, media and telecom industries, among other categories.
WestPark Capital provides a comprehensive range of corporate
finance services, including initial public offerings, follow-on
offerings, private placements, CMPOs, RDs, ATM, SIPOs and corporate
finance advisory services. Additional information about WestPark
Capital is available at www.wpcapital.com or at
info@wpcapital.com.
About LIXTE Biotechnology Holdings, Inc.
LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT), is a
clinical-stage pharmaceutical company focused on new targets for
cancer drug development and developing and commercializing cancer
therapies. Major drivers of cancer are defects in the switches that
turn the biochemical pathways in cells on or off. Most cancer
research over the past 30 years has focused on the “on” switches
because the “off” switches, especially the master “off” switch
protein phosphatase (PP2A), were believed to cause intolerable
toxicity in patients. LIXTE has achieved a breakthrough with its
novel, first-in-class lead clinical compound and PP2A inhibitor,
LB-100, demonstrating that LB-100 is readily tolerated in cancer
patients at doses associated with anti-cancer activity. Based on
extensive published preclinical data (see www.lixte.com), LB-100
has the potential to significantly improve outcomes for patients
undergoing various chemotherapies or immunotherapies. LIXTE’s new
approach has no known competitors and is covered by a comprehensive
patent portfolio. Initial proof-of-concept clinical trials are in
progress.
Forward-Looking Statements
This announcement contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933,
and Section 21E of the Securities Exchange Act of 1934. For
example, statements regarding the Company's financial position,
business strategy and other plans and objectives for future
operations, and assumptions and predictions about future product
demand, supply, manufacturing, costs, marketing and pricing factors
are all forward-looking statements. These statements are generally
accompanied by words such as "intend," anticipate," "believe,"
"estimate," "potential(ly)," "continue," "forecast," "predict,"
"plan," "may," "will," "could," "would," "should," "expect" or the
negative of such terms or other comparable terminology. The Company
believes that the assumptions and expectations reflected in such
forward-looking statements are reasonable, based on information
available to it on the date hereof, but the Company cannot provide
assurances that these assumptions and expectations will prove to
have been correct or that the Company will take any action that the
Company may presently be planning. However, these forward-looking
statements are inherently subject to known and unknown risks and
uncertainties. Actual results or experience may differ materially
from those expected or anticipated in the forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, regulatory policies,
available cash, research results, competition from other similar
businesses, and market and general economic factors. This
discussion should be read in conjunction with the Company's filings
with the United States Securities and Exchange Commission at
http://www.sec.gov/edgar.shtml.
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version on businesswire.com: https://www.businesswire.com/news/home/20220413005243/en/
WestPark Capital, Inc. Jason Stern info@wpcapital.com
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