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Matinas BioPharma (MTNB) just unveiled an update.
Matinas BioPharma Holdings, Inc. has struck a deal with institutional investors, selling over 33 million shares and warrants, aiming to raise about $10 million for corporate purposes. The shares and warrants are priced at $0.30 and $0.35 respectively, with the warrants exercisable in six months and expiring after five and a half years. The company has also agreed on a 90-day lock-up period, preventing further stock or securities issuance, and directors and officers are similarly restricted from selling their holdings. The sale is organized by A.G.P./Alliance Global Partners, who will receive a 7% commission and expense reimbursement. This transaction is part of a previously effective registration statement and has been publicly announced, along with the pricing details.
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