NEW YORK, May 24, 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 closing of its previously announced
underwritten public offering of 22,258,066 shares of its common
stock, at a price to the public of $3.10 per share, which includes the exercise in
full by the underwriters of their option to purchase up to
2,903,226 additional shares of common stock. The net proceeds to
Seelos from this offering are expected to be approximately
$64.5 million, after deducting
underwriting discounts and commissions and other estimated offering
expenses payable by Seelos. Seelos intends to use an aggregate of
$7.3 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.
Guggenheim Securities and Cantor acted as joint book-running
managers for the offering. BTIG acted as lead manager for the
offering. The Benchmark Company acted as a financial advisor for
the offering.
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. A final prospectus supplement
and the accompanying prospectus relating to and describing the
offering were filed with the SEC. Electronic copies of the final
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 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 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 and the final prospectus supplement and the accompanying
prospectus related to the public offering filed with the SEC on
May 21, 2021, including risks and
uncertainties associated with general economic and market
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.