Indaptus Therapeutics, Inc. Announces $3.0 Million Registered Direct Offering and Concurrent Private Placement
Summary
NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Indaptus Therapeutics, Inc. (Nasdaq: INDP) (Indaptus), a clinical stage biotechnology company dedicated to pioneering innovative cancer and viral infection treatments, today announced that it has entered into securities purchase agreements with investors, including an officer of Indaptus, for the issuance and sale of an aggregate of 1,643,837 of its shares of common stock. In a concurrent private placement, Indaptus has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 1,643,837 of its shares of common stock. The closing of the offering is expected to take place on or about August 8, 2024, subject to the satisfaction of customary closing conditions.Paulson Investment Company, LLC is acting as the exclusive placement agent in connection with the offering.The gross proceeds to Indaptus from the offering are expected to be approximately $3.0 million, before deducting the placement agents fees and other offering expenses payable by Indaptus. Indaptus intends to use the net proceeds from the offering to fund its research and development activities and for working capital and general corporate purposes.The shares of common stock were offered by the Company pursuant to a shelf registration statement on Form S-3 (Registration No. Other important factors discussed under the caption Risk Factors included in Indaptus Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 filed with the SEC on May 8, 2024, its most recent Annual Report on Form 10-K filed with the SEC on March 13, 2024, and its other filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release.