180 Life Sciences (NASDAQ: ATNF), a clinical-stage biotechnology company, today announced the closing of its registered direct offering to a single health care-focused U.S. institutional investor. The offering consisted of 6,132,076 shares of the company’s common stock (including common stock equivalents in lieu thereof) and warrants to purchase up to 6,132,076 shares of common stock at a purchase price per share (and accompanying warrant) of $1.06. The warrants are initially exercisable beginning six months following the date of issuance, at an exercise price of $1.06 per share, and expire five years from the initial exercise date. 180 Life Sciences intends to use the net proceeds for research and development expenses and general corporate purposes. A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
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About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company. The company is driving groundbreaking studies into clinical programs, which are seeking to develop treatments for major unmet clinical needs. The company’s primary platform is a novel program to treat inflammatory disorders using anti-TNF (tumor necrosis factor). For more information, visit the company’s website at www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at http://ibn.fm/ATNF
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