180 Life Sciences (ATNF) announced that it has entered into a securities purchase agreement with several institutional investors to sell 1,200,000 shares of common stock in a registered direct offering priced at market under Nasdaq rules. In a concurrent private placement, the Company also agreed to issue unregistered warrants to purchase up to an aggregate of 1,200,000 shares of common stock. The combined effective offering price for each share of common stock and accompanying warrants is $2.41. The warrants will have an exercise price of $2.28 per share, will be exercisable immediately, and expire on the five and a half year anniversary from the date of issuance. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $2.9 million before deducting the placement agent’s fees and other offering expenses payable by the Company. The offering is expected to close on or about December 30, 2024, subject to the satisfaction of customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering.
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