Full Press Release Details
Biotechnology Announces Closing of $3.5 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market under
CA, July 20, 2023 (GLOBE NEWSWIRE) - LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT and LIXTW) ("LIXTE" or
the "Company") today announced the closing of its previously announced registered direct offering of 583,334 shares of common
stock (or common stock equivalents in lieu thereof) and concurrent private placement of common warrants to purchase up to 583,334 shares
of common stock (together with the registered direct offering, the "Offering") at a purchase price of $6.00 per common share,
priced "at-the-market" under Nasdaq rules. The common warrants issued pursuant to the concurrent private placement have an
exercise price of $6.00 per share, are exercisable immediately upon issuance and will expire 5 years from issuance.
gross proceeds from the offering were approximately $3,500,000, excluding any proceeds that may be received upon the exercise of the
warrants and before deducting placement agent fees and other offering expenses payable by the Company.
Global Partners acted as sole placement agent for the Offering.
common stock and common stock equivalents in lieu thereof were issued in a registered direct offering pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-252430) previously filed with the U.S. Securities and Exchange Commission (the "SEC"),
under the Securities Act of 1933, as amended (the "Securities Act"), and declared effective by the SEC on February 5, 2021.
The common warrants were issued in a concurrent private placement. A prospectus supplement describing the terms of the proposed registered
direct offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies
of the prospectus supplement may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, New York
10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
private placement of the common warrants was made in reliance on an exemption from registration under Section 4(a)(2) of the Securities
Act and/or Regulation D thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered or sold
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.
press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
LIXTE Biotechnology Holdings, Inc.
Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on new targets for cancer drug development and developing
and commercializing cancer therapies. LIXTE has achieved a breakthrough demonstrating that its first-in-class lead clinical PP2A inhibitor,
LB-100, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Based on extensive published preclinical
data (see www.lixte.com), LB-100 has the potential to significantly improve outcomes for patients undergoing various chemotherapies
or immunotherapies. LIXTE's new approach has no known competitors and is covered by a comprehensive patent portfolio. Initial proof-of-concept
clinical trials are in progress.
announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section
21E of the Securities Exchange Act of 1934. For example, statements regarding the Company's financial position and business strategy
are forward-looking statements. These statements are generally accompanied by words such as "intend," anticipate,"
"believe," "estimate," "potential(ly)," "continue," "forecast," "predict,"
"plan," "may," "will," "could," "would," "should," "expect"
or the negative of such terms or other comparable terminology. The Company believes that the assumptions and expectations reflected in
such forward-looking statements are reasonable, based on information available to it on the date hereof, but the Company cannot provide
assurances that these assumptions and expectations will prove to have been correct or that the Company will take any action that the
Company may presently be planning. However, these forward-looking statements are inherently subject to known and unknown risks and uncertainties.
Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that
could cause or contribute to such differences include, but are not limited to, regulatory policies, available cash resources, research
results, competition from other similar businesses, and market and general economic factors. This discussion should be read in conjunction
with the Company's filings with the United States Securities and Exchange Commission at http://www.sec.gov/edgar.shtml.
more information about LIXTE, contact:
Phone: (631) 830-7092
Phone: (888) 289-5533
Inc. Investor Relations
Pondel: (310) 279-5965
Berman: (310) 279-5962
Lixte Biotechnology Holdings, Inc.