Purple Biotech prices 5.99M ADSs at $1.00 in public offering

Purple Biotech (PPBT) announced the pricing of a public offering of an aggregate of 5,999,999 of the Company’s American Depositary Shares, with each ADS representing 200 ordinary shares, and short-term warrants to purchase up to 11,999,998 ADSs, at a combined public offering price of $1.00 per share and accompanying short-term warrants. The short-term warrants will have an exercise price of $1.00 per ADS, will be exercisable immediately upon issuance and will expire twenty-four months from the date of issuance. The closing of the offering is expected to occur on or about September 5, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses payable by the Company, are expected to be approximately $6 million. The potential additional gross proceeds to the Company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $12 million. No assurance can be given that any of such short-term warrants will be exercised. The Company intends to use the net proceeds from this offering for development of its oncology therapeutic candidates and for general working capital and corporate purposes.