Liminatus Pharma Enters Into $1.9 Mln Warrant Exercise Transaction

(RTTNews) - Liminatus Pharma, Inc. (LIMN), a biopharmaceutical company, announced that it has entered into a warrant exercise agreement with existing accredited investors to exercise certain outstanding warrants to purchase an aggregate of 10.34 million shares.

Considering the immediate exercise of existing warrants for cash, holders were issued new unregistered warrants to purchase an aggregate of 20.688 million shares, and the company has reduced the exercise price of existing warrants to $0.18. Proceeds to the company from the exercise of the existing warrants totalled $1.9 million.

Each new warrant has an exercise price of $0.18 per underlying share and is not exercisable until stockholder approval in accordance with Nasdaq rules. The new warrants will expire five years from the date such stockholder approval is obtained.

Maxim Group LLC acted as warrant inducement agent and financial advisor in connection with the transaction.

LIMN has traded between $0.13 and $33.66 over the last year. The stock closed Wednesday's trade at $0.15, down 22.21%.

In the pre-market, LIMN is up 0.20% at $ 0.15.

For More Such Biotech Stock News, visit rttnews.com