Checkpoint Therapeutics Inc (CKPT) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Checkpoint Therapeutics, Inc. entered into a securities purchase agreement on January 27, 2024, with a healthcare-focused institutional investor, involving the sale of 1,275,000 shares of common stock, pre-funded and common warrants exercisable for over 7 million shares. The transaction is expected to generate approximately $14 million in gross proceeds, with the closing set around January 31, 2024. H.C. Wainwright & Co., LLC has been appointed as the exclusive placement agent, receiving fees and warrants as compensation. The shares and warrants were offered through a shelf registration statement and accompanying prospectus supplement.
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For a comprehensive understanding of the announcement, you can read the full document here.