Plus Therapeutics announces restructuring of $15M equity financing

Plus Therapeutics (PSTV) announces a comprehensive restructuring of its previous $15M equity financing announced on March 4, 2025. This strategic restructuring eliminates potential dilution of up to 1.5B shares of common stock, which the Company believes will significantly enhance shareholder value and position the Company to move forward with a more straightforward equity capital structure. The restructuring cancels warrants associated with the equity financing, which could have resulted in the issuance of up to 1.51B shares of common stock, leaving approximately 36M shares of common stock issuable upon exercise of amended Series B Warrants at an alternative cashless exercise ratio of 1:1. The restructuring will lead to the cancellation of approximately 25M shares of common stock, further reducing stockholder dilution. The Company will use 90% of future proceeds from any capital raised subsequent to July 1, 2025 to repay the holders of 22,727,270 shares of common stock at 115% of the price originally paid for such securities in the March 2025 Equity Financing, based on an effective initial price of $0.66 per share.