Full Press Release Details
Biotechnology Holdings, Inc. Announces $5.0 Million Private Placement Priced at the Market
CALIF, July 1, 2025 (GLOBE NEWSWIRE) - Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT) (the "Company"), a clinical
stage pharmaceutical company, today announced that, on June 30, 2025 intraday, it entered into a definitive agreement with accredited
investors on the purchase and sale of approximately $5.0 million of shares of Common Stock (or Pre-Funded Warrants), Series B Convertible
Preferred Stock and Common Warrants. The offering was priced at the market under Nasdaq rules.
offering consists of the sale of an aggregate of 2,382,084 shares of Common Stock (or Pre-funded Warrants in lieu thereof), 3,573,130
shares of Series B Convertible Preferred Stock and 6,355,214 Common Warrants. The Pre-Funded Warrants will be immediately exercisable
at an exercise price of $0.00001 and may be exercised at any time until exercised in full. The initial exercise price of each Common
Warrant is $1.00 per share of Common Stock. The Common Warrants are exercisable immediately and expire 60 months after the resale registration
statement registering the underlying shares is declared effective.
gross proceeds to the Company are expected to be approximately $5.0 million, $4.0 million of which will be paid at closing and $1.0 million
of which will be paid when the resale registration statement registering Common Stock and the underlying shares is declared effective.
The transaction is expected to close on or about July 2, 2025, subject to the satisfaction of customary closing conditions. The Company
expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
Capital Securities, LLC is acting as exclusive placement agent for the private placement. TroyGould PC is acting as counsel to the Company.
Kaufman & Canoles, P.C. is acting as counsel to Spartan Capital Securities, LLC.
securities described above are being sold in a private placement transaction not involving a public offering and have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the
securities 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. The securities were offered
only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more
registration statements with the SEC covering the resale of the Common Stock and the Shares issuable upon exercise of the pre-funded
warrants and warrants.
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 demonstrated 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 enhance chemotherapies and immunotherapies and improve outcomes for patients with cancer.
lead compound, LB-100, is part of a pioneering effort in an entirely new field of cancer biology - activation lethality -
that is advancing a new treatment paradigm. LIXTE's new approach is covered by a comprehensive patent portfolio. Proof-of-concept
clinical trials are currently in progress for colon, small cell lung and sarcoma cancers. Additional information about LIXTE can be found
foregoing material may contain "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, each as amended. Forward-looking statements include all statements that do not
relate solely to historical or current facts, including without limitation statements regarding the Company's product development
and business prospects, and can be identified by the use of words such as "may," "will," "expect,"
"project," "estimate," "anticipate," "plan," "believe," "potential,"
"should," "continue" or the negative versions of those words or other comparable words. Forward-looking statements
are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to
the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect
current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes
that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance,
or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend
to update any of the forward-looking statements to conform these statements to actual results.
Phone: (631) 830-7092; Investor Phone: (888) 289-5533
Inc. Investor Relations pwinvestor@pondel.com
Pondel: (310) 279-5965; Laurie Berman: (310) 279-5962