India, March 15 -- Sellas Life Sciences Group, Inc. (SLS) announced on Friday that it has finalized agreements with two current institutional investors for the sale of 13,029,316 shares of its common stock in a registered direct offering.
Additionally, warrants to purchase up to 13,029,316 shares of common stock will be available in a private placement.
The combined purchase price for each share and accompanying warrant is $1.535, in line with Nasdaq rules.
The warrants, with an exercise price of $1.41 per share, will be exercisable immediately upon issuance and will expire 5.5 years later.
The gross proceeds of the Offering are expected to reach around $20 million, before deducting fees.
The Company plans to allocate the net proceeds ...