Bio-Path Holdings Raises $2.4M in Direct Offering

TL;DR

BPTH just raised $2.4M via direct offering at $2.20/share to fund operations.

AI Summary

Bio-Path Holdings, Inc. announced on March 8, 2024, that it has entered into a securities purchase agreement with an institutional investor for a registered direct offering. The company plans to issue approximately 1.1 million shares of its common stock at a price of $2.20 per share, expecting to raise gross proceeds of about $2.4 million before deducting offering expenses.

Why It Matters

This capital infusion provides Bio-Path Holdings with additional funds to advance its clinical programs and operations, potentially impacting its future development and market position.

Risk Assessment

Risk Level: medium — The company is raising capital through a direct offering, which can dilute existing shareholders and may indicate a need for funds to continue operations or advance its pipeline.

Key Numbers

• $2.4M — Gross Proceeds (Expected from the registered direct offering.)
• $2.20 — Price Per Share (The price at which shares are being offered in the direct offering.)
• 1.1 million — Shares Offered (The approximate number of common stock shares to be issued.)

Key Players & Entities

• Bio-Path Holdings, Inc. (company) — Registrant
• March 8, 2024 (date) — Date of earliest event reported
• institutional investor (company) — Purchaser in the offering
• 1.1 million (dollar_amount) — Number of shares to be issued
• $2.20 (dollar_amount) — Price per share
• $2.4 million (dollar_amount) — Gross proceeds expected

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M
• $1.00 — the Company's common stock has been at $1.00 per share or greater. Accordingly, the

Filing Documents

• bpth-20240308x8k.htm (8-K) — 33KB
• 0001558370-24-002853.txt ( ) — 149KB
• bpth-20240308.xsd (EX-101.SCH) — 3KB
• bpth-20240308_lab.xml (EX-101.LAB) — 16KB
• bpth-20240308_pre.xml (EX-101.PRE) — 10KB
• bpth-20240308x8k_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. On March 8, 2024, Bio-Path Holdings, Inc. (the "Company") received a letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. The Letter noted that Nasdaq has determined that for the last ten consecutive business days, from February 23 through March 7, 2024, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Letter noted that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and that this matter is now closed.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. BIO-PATH HOLDINGS, INC. Dated: March 11, 2024 By: /s/ Peter H. Nielsen Peter H. Nielsen President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR