NEW YORK, May 20, 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 the pricing of an underwritten public offering of
19,354,840 shares of its common stock, at a price to the public of
$3.10 per share. In addition, the
Company granted the underwriters a 30-day option to purchase up to
2,903,226 additional shares of its common stock. All of the shares
of common stock in the offering are being sold by Seelos.
Guggenheim Securities and Cantor are serving as joint
book-running managers for the offering. BTIG is serving as lead
manager for the offering. The Benchmark Company acted as a
financial advisor for the offering.
Seelos anticipates the aggregate net proceeds from the offering
will be approximately $56.1 million,
after deducting the underwriting discounts and commissions and
estimated offering expenses payable by Seelos, but excluding any
exercise of the underwriters' option to purchase additional shares
of common stock. Seelos intends to use an aggregate of $6.3 million of the net proceeds from the
offering for the partial repayment of certain outstanding
convertible promissory notes and the remainder for general
corporate purposes and to advance the development of its product
candidates. This offering is expected to close on or about
May 24, 2021, subject to the
satisfaction of customary closing conditions.
The securities described above were 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 has been filed with the SEC. Electronic copies of the
preliminary prospectus and, when available, copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering 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, 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 underwritten public offering, the amount and
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 public offering filed with the SEC on May
19, 2021, 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.