India, June 11 -- Atossa Therapeutics, Inc. (ATOS) has entered into a securities purchase agreement with institutional investors for a registered direct offering of up to $16.5 million in gross proceeds. The transaction includes an initial $4.5 million upfront investment and up to an additional $12 million in potential proceeds upon full exercise of accompanying warrants.
Under the agreement, investors will purchase about 1.36 million shares of common stock-or common stock equivalents-along with Series A and short-term Series B warrants to buy an equal number of shares. The Series A warrants will be exercisable six months after issuance and expire in 5.5 years, while the Series B warrants will expire two years after issuance.
The closing ...