Hillstream BioPharma Announces Pricing of Public Offering
BRIDGEWATER, N.J., April 27, 2023 (GLOBE NEWSWIRE) — Hillstream BioPharma, Inc. (Nasdaq:HILS) (“Hillstream” or the “Company”), a biotechnology company developing therapeutic candidates targeting drug resistant and devastating cancers using ferroptosis, an emerging new anti-cancer mechanism resulting in iron-mediated cell death, and immuno-oncology targeted novel biologics, today announced the pricing of an underwritten public offering of 5,300,000 shares of its common stock. Each share is being sold to the public at a price of $0.50 for gross proceeds of $2,650,000, before deducting underwriting discounts and offering expenses. All of the shares of common stock are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 795,000 shares to cover over-allotments at the public offering price, less the underwriting discount. The offering is expected to close on May 2, 2023, subject to satisfaction of customary closing conditions.
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