NEW YORK, May 19, 2021 /PRNewswire/ -- Seelos Therapeutics,
Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company
focused on the development of therapies for central nervous system
(CNS) disorders and rare diseases, announced today that it has
commenced an underwritten public offering of shares of common
stock. The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering. In
addition, the Company intends to grant the underwriters a 30-day
option to purchase up to an additional 15% of the aggregate number
of shares of common stock sold in the offering on the same terms
and conditions. All of the shares of common stock in the offering
will be sold by Seelos.
Guggenheim Securities is acting as book-running manager for the
proposed offering.
Seelos intends to use a portion of the net proceeds from the
offering for the repayment of certain outstanding convertible
promissory notes and the remainder for general corporate purposes
and to advance the development of its product candidates.
The securities described above will be offered by Seelos
pursuant to an effective "shelf" registration statement on Form S-3
(File No. 333-251356) previously filed with the Securities and
Exchange Commission (the "SEC") on December
15, 2020, amended on December 22,
2020 and declared effective by the SEC on December 23, 2020. The securities may be offered
only by means of a prospectus. A preliminary prospectus supplement
and the accompanying prospectus relating to and describing the
offering will be filed with the SEC. Electronic copies of the
preliminary prospectus supplement and the accompanying prospectus
may be obtained by visiting the SEC's website at
www.sec.gov or by contacting Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue,
8th Floor, New York, NY
10017, by calling (212) 518-9544 or by e-mail at
GSEquityProspectusDelivery@guggenheimpartners.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or jurisdiction.
About Seelos Therapeutics:
Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical
company focused on the development and advancement of novel
therapeutics to address unmet medical needs for the benefit of
patients with CNS disorders and other rare diseases. The Company's
robust portfolio includes several late-stage clinical assets
targeting indications including Acute Suicidal Ideation and
Behavior (ASIB) in Major Depressive Disorder (MDD) or
Post-Traumatic Stress Disorder (PTSD), amyotrophic lateral
sclerosis (ALS), Sanfilippo syndrome, Parkinson's disease, other
psychiatric and movement disorders plus orphan diseases.
Forward-Looking Statements:
This press release contains forward-looking statements related
to Seelos Therapeutics, Inc. and its subsidiaries under the safe
harbor provisions of Section 21E of the Private Securities
Litigation Reform Act of 1995 and subject to risks and
uncertainties that could cause actual results to differ materially
from those projected. Forward-looking statements include statements
regarding the proposed underwritten public offering and the
anticipated use of proceeds from the offering and other matters
that are described in Seelos' most recent periodic reports filed
with the SEC, including Seelos' Annual Report on Form 10-K for the
year ended December 31, 2020 filed on
March 11, 2021, subsequent Quarterly
Reports on Form 10-Q, including Seelos' Quarterly Report on Form
10-Q for the quarter ended March 31,
2021 filed on April 30, 2021,
and the preliminary prospectus supplement and the accompanying
prospectus related to the proposed public offering to be filed with
the SEC on or about the date hereof, including risks and
uncertainties associated with general economic and market
conditions and the satisfaction of customary closing conditions and
the other risk factors set forth in those filings. Investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release and
Seelos disclaims any intent or obligation to update these
forward-looking statements except as required by law.
Contact Information:
Anthony
Marciano
Head of Corporate Communications
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com
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SOURCE Seelos Therapeutics, Inc.