On March 1, 2021 Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT), a clinical-stage drug discovery company developing pharmacologically active drugs for use in cancer treatment, reported that it has entered into definitive agreements for the purchase and sale of 1,133,102 shares of Lixte’s common stock, at a purchase price of $3.70 per share, in a registered direct offering (Press release, Lixte Biotechnology, MAR 1, 2021, View Source [SID1234575938]). The closing of the offering is expected to occur on or about March 2, 2021, subject to the satisfaction of customary closing conditions.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

WestPark Capital, Inc. and WallachBeth Capital, LLC are acting as co-placement agents for the offering.

The gross proceeds to Lixte from this offering are expected to be approximately $4.19 million before deducting the placement agents’ fees and other offering expenses payable by Lixte. The company intends to use the net proceeds from the offering for working capital and general expenses including further development of its lead clinical compound LB-100.

The shares of common stock are being offered by Lixte pursuant to a "shelf" registration statement on Form S-3 (File No. 333-252430) previously filed with the Securities and Exchange Commission (the "SEC") on January 26, 2021 and declared effective by the SEC on February 5, 2021. The offering of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at View Source or from: WestPark Capital, Inc. – Attention: Jason Stern, 1900 Avenue of the Stars, 3rd Floor, Los Angeles, CA 90077 or by Email: [email protected] or by telephone at (310) 203-2919.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.