On January 13, 2025 Indaptus Therapeutics, Inc. (Nasdaq: INDP) ("Indaptus"), a clinical stage biotechnology company dedicated to pioneering innovative cancer and viral infection treatments, reported that it has entered into securities purchase agreements with investors for the issuance and sale in a private placement priced at-the-market under Nasdaq rules of an aggregate of 2,109,383 of its shares of common stock and accompanying warrants to purchase up to an aggregate of 2,109,383 of its shares of common stock (Press release, Indaptus Therapeutics, JAN 13, 2025, View Source;qmodStoryID=6007485332607308 [SID1234649723]). The combined effective purchase price for each share of common stock and associated warrants is $1.065. The closing of the offering is expected to take place on or about January 15, 2025, subject to the satisfaction of customary closing conditions.
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The warrants will have an exercise price of $0.94 per share, will be immediately exercisable upon issuance and have a term of five years from the date of issuance.
Paulson Investment Company, LLC is acting as the exclusive placement agent in connection with the offering.
The gross proceeds to Indaptus from the offering are expected to be approximately $2.25 million, before deducting the placement agent’s fees and other offering expenses payable by Indaptus. Indaptus intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.
The shares of common stock and warrants to be issued in the private placement and shares issuable upon exercise of such warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Rule 506(b) of Regulation D promulgated thereunder, have not been registered under the Securities Act or applicable state securities laws and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the 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 jurisdiction.