Full Press Release Details
SELLAS Life Sciences
Announces Pricing of $9.0 Million Public Offering
04, 2024 (GLOBE NEWSWIRE) -- SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) ("SELLAS'' or the
"Company"), a late-stage clinical biopharmaceutical company focused on the development of novel therapies for a broad
range of cancer indications, today announced the pricing of its previously announced public offering for the purchase and sale of
12,000,000 shares of common stock (or common stock equivalents in lieu thereof) and accompanying warrants to purchase up to an
aggregate of 12,000,000 shares of common stock at a combined purchase price of $0.75 per share and accompanying warrant, resulting
in total gross proceeds of $9.0 million, before deducting placement agent commissions and other estimated offering expenses. The
warrants have an exercise price of $0.75 per share, are immediately exercisable and will expire five years from the date of
Global Partners is acting as the sole placement agent for the offering.
closing of the offering is expected to occur on or about January 8, 2024, subject to the satisfaction of customary closing conditions.
offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-255318) previously filed with
the U.S. Securities and Exchange Commission (the "SEC"). The offering will be made only by means of a prospectus supplement
and accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.
Electronic copies of the preliminary prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590
Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus
and the other documents that SELLAS has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying
prospectus, which provide more information about SELLAS and such offering.
press release shall not constitute an offer to sell or a 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 other jurisdiction.
SELLAS Life Sciences Group, Inc.
is a late-stage clinical biopharmaceutical company focused on the development of novel therapeutics for a broad range of cancer indications.
SELLAS' lead product candidate, galinpepimut-S (GPS), is licensed from Memorial Sloan Kettering Cancer Center and targets the WT1
protein, which is present in an array of tumor types. GPS has the potential as a monotherapy and combination with other therapies to
address a broad spectrum of hematologic malignancies and solid tumor indications. The Company is also developing SLS009 (formerly GFH009),
a small molecule, highly selective CDK9 inhibitor, which is licensed from GenFleet Therapeutics (Shanghai), Inc., for all therapeutic
and diagnostic uses in the world outside of Greater China.
more information on SELLAS, please visit www.sellaslifesciences.com.
Forward-Looking Statements
press release contains forward-looking statements. All statements other than statements of historical facts are "forward-looking
statements," including those relating to future events. In some cases, forward-looking statements can be identified by terminology
such as "plan," "expect," "anticipate," "may," "might," "will,"
"should," "project," "believe," "estimate," "predict," "potential,"
"intend," or "continue" and other words or terms of similar meaning. These statements include, without limitation,
statements about the Company's expectations regarding the use of net proceeds of the proposed offering and other information that
is not historical information. These forward- looking statements are based on current plans, objectives, estimates, expectations and
intentions, and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially
from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation,
risks and uncertainties with oncology product development and clinical success thereof, the uncertainty of regulatory approval, and other
risks and uncertainties affecting SELLAS and its development programs as set forth under the caption "Risk Factors" in SELLAS'
Annual Report on Form 10-K filed on March 16, 2023 and in its other SEC filings. Other risks and uncertainties of which SELLAS is not
currently aware may also affect SELLAS' forward-looking statements and may cause actual results and the timing of events to differ
materially from those anticipated. The forward-looking statements herein are made only as of the date hereof. SELLAS undertakes no obligation
to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations
or other circumstances that exist after the date as of which the forward- looking statements were made.
LifeSci Advisors, LLC
SELLAS Life Sciences Group, Inc.