By Chris Wack
Aptorum Group shares were 24% lower, at $1.80, after the company said it has entered into definitive agreements for the purchase and sale of 1 million shares at $2 a share in a registered direct offering.
In a concurrent private placement, the biopharmaceutical company said it will also issue unregistered warrants to buy up to 2 million shares at an exercise price of $2 per share.
The warrants will be exercisable upon issuance and will expire 24 months from the effective date of a registration statement registering for resale the ordinary shares underlying the warrants.
The closing of the offering is expected to occur on or about Tuesday.
The proceeds to Aptorum from the offering are expected to be $2 million before deducting placement agent fees and other offering expenses. The potential additional gross proceeds to the company from the unregistered warrants, if fully exercised on a cash basis, will be $4 million.
The company said it intends to use the proceeds from the offering to fund expenses expected to be incurred in connection with the previously announced merger agreement between Aptorum and DiamiR Biosciences, and for general working capital for the two companies pending anticipated closing of the merger.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 10, 2025 10:18 ET (14:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments