Lixte Biotech Raises $1.9M via Stock and Warrant Sale
Ticker: LIXT · Form: 8-K · Filed: Aug 19, 2024 · CIK: 1335105
| Field | Detail |
|---|---|
| Company | Lixte Biotechnology Holdings, INC. (LIXT) |
| Form Type | 8-K |
| Filed Date | Aug 19, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, stock-offering, warrants
TL;DR
Lixte Biotech just sold stock & warrants for $1.9M to an investor at $1.75/share.
AI Summary
Lixte Biotechnology Holdings, Inc. announced on August 15, 2024, that it has entered into a securities purchase agreement with an institutional investor. The agreement allows for the sale of approximately 1.1 million shares of common stock and warrants to purchase approximately 1.1 million shares of common stock, at a combined purchase price of $1.75 per share and associated warrant. The company anticipates gross proceeds of approximately $1.9 million from this offering.
Why It Matters
This capital raise provides Lixte Biotechnology with funds that can be used for ongoing research and development, potentially advancing their drug candidates and future growth prospects.
Risk Assessment
Risk Level: medium — The company is raising capital through a stock and warrant offering, which can dilute existing shareholders and may indicate a need for funding to continue operations or development.
Key Numbers
- $1.9M — Gross Proceeds (Funds raised from the securities purchase agreement.)
- $1.75 — Per Share/Warrant Price (Combined price for one share of common stock and one warrant.)
- 1.1M shares — Shares Sold (Number of common stock shares sold in the offering.)
- 1.1M warrants — Warrants Sold (Number of warrants sold in the offering.)
Key Players & Entities
- LIXTE BIOTECHNOLOGY HOLDINGS, INC. (company) — Filer
- August 15, 2024 (date) — Date of earliest event reported
- 1.1 million (dollar_amount) — Number of shares of common stock to be sold
- 1.1 million (dollar_amount) — Number of warrants to be sold
- $1.75 (dollar_amount) — Combined purchase price per share and associated warrant
- $1.9 million (dollar_amount) — Anticipated gross proceeds from the offering
FAQ
What is the purpose of the securities purchase agreement?
The agreement allows Lixte Biotechnology Holdings, Inc. to sell approximately 1.1 million shares of common stock and warrants to purchase approximately 1.1 million shares of common stock to an institutional investor.
What are the anticipated gross proceeds from this offering?
The company anticipates gross proceeds of approximately $1.9 million from the sale of securities.
What is the purchase price per share and associated warrant?
The combined purchase price for each share of common stock and associated warrant is $1.75.
When was the date of the earliest event reported in this filing?
The date of the earliest event reported is August 15, 2024.
Who is the counterparty to the securities purchase agreement?
The filing states the agreement is with 'an institutional investor', but does not name the specific investor.
Filing Stats: 384 words · 2 min read · ~1 pages · Grade level 12 · Accepted 2024-08-19 17:17:22
Filing Documents
- form8-k.htm (8-K) — 41KB
- ex99-1.htm (EX-99.1) — 12KB
- ex99-2.htm (EX-99.2) — 24KB
- ex99-1_001.jpg (GRAPHIC) — 10KB
- ex99-2_001.jpg (GRAPHIC) — 11KB
- 0001493152-24-033144.txt ( ) — 323KB
- lixt-20240815.xsd (EX-101.SCH) — 3KB
- lixt-20240815_def.xml (EX-101.DEF) — 26KB
- lixt-20240815_lab.xml (EX-101.LAB) — 36KB
- lixt-20240815_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: August 19, 2024 LIXTE BIOTECHNOLOGY HOLDINGS, INC. (Registrant) By: /s/ BASTIAAN VAN DER BAAN Bastiaan van der Baan Chief Executive Officer INDEX TO EXHIBITS Exhibit No. Description 99.1 Press release announcing that the Company will be presenting at two investor conferences 99.2 Press release providing an update on the Company's recent activities 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)