PolyPid Ends Equity Sales Agreement, No Penalties Incurred

PolyPid (PYPD) has released an update.

PolyPid Ltd. has officially notified Cantor Fitzgerald of its decision to end their Controlled Equity Offering Sales Agreement as of July 15, 2024. Under the agreement, which commenced on July 2, 2021, PolyPid had the option to sell shares worth up to $8.7 million, a decrease from the original $45 million cap. The company successfully raised around $6.4 million in net proceeds before the termination, which did not result in any penalties.

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