9 Meters Biopharma announces $5M registered direct offering priced at $1.60

9 Meters Biopharma announced that it has entered into a definitive securities purchase agreement for the purchase and sale of 3,125,000 shares of the Company’s common stock and warrants to purchase 6,250,000 shares of common stock at a combined purchase price of $1.60 per share of common stock and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $1.35 per share, will be exercisable immediately following issuance, and will expire three and one-half years following the date of issuance. The closing of the offering is expected to occur on or about March 15, 2023, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.