Bio-Path Holdings Raises $2M in Stock Sale

TL;DR

Bio-Path just sold ~1.1M shares at $1.80 for $2M gross to fund trials.

AI Summary

On April 18, 2024, Bio-Path Holdings, Inc. entered into a Material Definitive Agreement, specifically a Securities Purchase Agreement, with accredited investors. The company agreed to sell approximately 1.1 million shares of its common stock at a purchase price of $1.80 per share, raising gross proceeds of approximately $2 million before deducting offering expenses. This transaction is part of the company's ongoing efforts to secure financing for its clinical development programs.

Why It Matters

This capital infusion provides Bio-Path Holdings with crucial funding to advance its clinical trials, potentially leading to the development of new treatments and impacting future revenue streams.

Risk Assessment

Risk Level: medium — The company is raising capital through a stock sale, which can dilute existing shareholders and indicates a need for funding to advance its development pipeline.

Key Numbers

• $2.0M — Gross Proceeds (Raised from the sale of common stock to accredited investors.)
• $1.80 — Price Per Share (The price at which approximately 1.1 million shares of common stock were sold.)
• 1.1M — Shares Sold (The approximate number of common stock shares sold in the offering.)

Key Players & Entities

• Bio-Path Holdings, Inc. (company) — Registrant
• April 18, 2024 (date) — Date of earliest event reported
• Securities Purchase Agreement (agreement) — Material Definitive Agreement
• accredited investors (group) — Purchasers of stock
• 1.1 million (number) — Number of shares sold
• $1.80 (dollar_amount) — Price per share
• $2 million (dollar_amount) — Gross proceeds

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M
• $3.225 — ck"), for a purchase price per Share of $3.225 and gross proceeds of approximately $1.
• $1.2 million — 225 and gross proceeds of approximately $1.2 million. The Shares will be issued pursuant to
• $3.10 — issuance and have an exercise price of $3.10 per share. The number of shares issuabl
• $4.0313 — Warrants will have an exercise price of $4.0313 per share and will expire five years fo
• $1.0 million — rants, are expected to be approximately $1.0 million. The Registered Direct Offering and the

Filing Documents

• tm2412201d1_8k.htm (8-K) — 37KB
• tm2412201d1_ex4-1.htm (EX-4.1) — 101KB
• tm2412201d1_ex4-2.htm (EX-4.2) — 104KB
• tm2412201d1_ex5-1.htm (EX-5.1) — 9KB
• tm2412201d1_ex10-1.htm (EX-10.1) — 243KB
• tm2412201d1_99-1.htm (EX-99.1) — 13KB
• tm2412201d1_ex99-1img001.jpg (GRAPHIC) — 5KB
• tm2412201d1_ex5-1img001.jpg (GRAPHIC) — 7KB
• 0001104659-24-049197.txt ( ) — 817KB
• bpth-20240418.xsd (EX-101.SCH) — 3KB
• bpth-20240418_lab.xml (EX-101.LAB) — 33KB
• bpth-20240418_pre.xml (EX-101.PRE) — 22KB
• tm2412201d1_8k_htm.xml (XML) — 4KB

01 Entry Into a Material Definitive

Item 1.01 Entry Into a Material Definitive Agreement. On April 18, 2024, Bio-Path Holdings, Inc. (the "Company") entered into a securities purchase agreement (the "Purchase Agreement") with certain institutional investors, pursuant to which the Company agreed to sell, in a registered direct offering (the "Registered Direct Offering"), an aggregate of 375,000 shares (the "Shares") of its common stock, par value $0.001 per share ("Common Stock"), for a purchase price per Share of $3.225 and gross proceeds of approximately $1.2 million. The Shares will be issued pursuant to a prospectus supplement dated as of April 18, 2024, in connection with a takedown from the Company's shelf registration of June 14, 2022 contained in such registration statement. The Purchase Agreement contains customary representations, warranties, and covenants of the Company and also provides for customary indemnification by the Company against certain liabilities of the institutitional investors. In a concurrent private placement (the "Private Placement"), the Company also agreed pursuant to the Purchase Agreement to issue to the investors in the Registered Direct Offering warrants to purchase up to 375,000 shares of Common Stock (the "Common Warrants"), which represent 100% of the number of shares of Common Stock purchased in the Registered Direct Offering. Subject to certain ownership limitations, the Common Warrants will be exercisable immediately upon issuance, have a term of five years from issuance and have an exercise price of $3.10 per share. The number of shares issuable upon exercise of the Common Warrants and the exercise price of the Common Warrants are adjustable in the event of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. On March 22, 2024, the Company entered into an engagement letter (the "Engagement Letter

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information contained above in Item 1.01 regarding the Warrants and the Warrant Shares is hereby incorporated by reference into this Item 3.02. Item 8.01 Other Events. On April 18, 2024, the Company issued a press release regarding the pricing of the Registered Direct Offering. A copy of the press release is attached hereto as Exhibit 99.1.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 4.1 Form of Common Warrant 4.2 Form of Placement Agent Warrant 5.1 Opinion of Winstead PC 10.1 Form of Securities Purchase Agreement 23.1 Consent of Winstead PC (included in Exhibit 5.1) 99.1 Press Release dated April 18, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).

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: April 19, 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