Lixte Biotechnology Secures $1.5M Funding
Ticker: LIXT · Form: 8-K · Filed: Mar 22, 2024 · CIK: 1335105
Sentiment: neutral
Topics: funding, securities-offering, preferred-stock
TL;DR
Lixte Biotech raises $1.5M via preferred stock and warrants, closing next week.
AI Summary
Lixte Biotechnology Holdings, Inc. announced on March 21, 2024, that it has entered into a securities purchase agreement with an investor. The agreement allows for the sale of approximately $1.5 million of its Series B Convertible Preferred Stock and warrants to purchase common stock. This transaction is expected to close on or about March 26, 2024.
Why It Matters
This funding infusion provides Lixte Biotechnology with capital to advance its clinical programs, potentially leading to the development of new treatments.
Risk Assessment
Risk Level: medium — The company is raising capital through preferred stock and warrants, which can be dilutive to existing shareholders and indicates a need for funding to continue operations.
Key Numbers
- $1.5M — Capital Raised (Through sale of Series B Convertible Preferred Stock and warrants.)
Key Players & Entities
- LIXTE BIOTECHNOLOGY HOLDINGS, INC. (company) — Filer
- March 21, 2024 (date) — Date of earliest event reported
- $1.5 million (dollar_amount) — Amount of Series B Convertible Preferred Stock to be sold
- March 26, 2024 (date) — Expected closing date of the transaction
FAQ
What is the purpose of the securities purchase agreement?
The agreement is for the sale of approximately $1.5 million of Series B Convertible Preferred Stock and warrants to purchase common stock.
Who is the counterparty in the securities purchase agreement?
The filing does not explicitly name the investor, referring to them only as 'an investor'.
What is the expected closing date for this transaction?
The transaction is expected to close on or about March 26, 2024.
What type of securities are being sold?
The company is selling Series B Convertible Preferred Stock and warrants to purchase common stock.
What is the principal executive office address for Lixte Biotechnology Holdings, Inc.?
The principal executive offices are located at 680 East Colorado Boulevard, Suite 180, Pasadena, California 91101.
Filing Stats: 358 words · 1 min read · ~1 pages · Grade level 12 · Accepted 2024-03-22 11:17:13
Filing Documents
- form8-k.htm (8-K) — 39KB
- ex99-1.htm (EX-99.1) — 19KB
- ex99-1_001.jpg (GRAPHIC) — 6KB
- 0001493152-24-010934.txt ( ) — 279KB
- lixt-20240321.xsd (EX-101.SCH) — 3KB
- lixt-20240321_def.xml (EX-101.DEF) — 26KB
- lixt-20240321_lab.xml (EX-101.LAB) — 36KB
- lixt-20240321_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 5KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 22, 2024 LIXTE BIOTECHNOLOGY HOLDINGS, INC. (Registrant) By: /s/ BASTIAAN VAN DER BAAN Bastiaan van der Baan President and Chief Executive Officer 3 INDEX TO EXHIBITS Exhibit No. Description 99.1 Press release providing an update on the Company's proprietary compound, LB-100 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document) 4