Panbela Therapeutics Announces Exercise of Warrants and Issuance of New Warrants in a Private Placement for $2.0 Million Gross Proceeds Priced At-the-Market

MINNEAPOLIS, Dec. 21, 2023 (GLOBE NEWSWIRE) —  Panbela Therapeutics, Inc. (Nasdaq:PBLA), a clinical stage biopharmaceutical company developing disruptive therapeutics for the treatment of patients with urgent unmet medical needs, today announced it has entered into agreements with certain holders of its existing warrants exercisable for 2,556,000 shares of its common stock, in the aggregate, to exercise outstanding warrants at the existing exercise price of $0.78 per share, in exchange for new warrants as described below. The aggregate gross proceeds from the exercise of the existing warrants is expected to total approximately $2.0 million, before deducting financial advisory fees. The exercisability of the new warrants and any resulting issuance of the shares underlying the new warrants are subject to stockholder approval in accordance with Nasdaq rules.

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