Sellas $25M registered direct offering priced at $1.27 per share and warrant

Sellas Life Sciences (SLS) announced that it has entered into a securities purchase agreement with a single healthcare-focused institutional investor for the purchase and sale of 19,685,040 shares of its common stock, or common stock equivalents in lieu thereof, and warrants to purchase up to an aggregate of 19,685,040 shares of common stock in a registered direct offering at a combined purchase price of $1.27 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $1.20 per share, will be immediately exercisable upon issuance and will expire 5 years from issuance. Alliance Global Partners is acting as lead placement agent for the offering and Maxim Group LLC is acting as co-placement agent for the offering.