Purple Biotech Raises $2.8M in Direct Offering
Ticker: PPBT · Form: 6-K · Filed: Dec 3, 2024 · CIK: 1614744
Sentiment: neutral
Topics: offering, financing, biotech
TL;DR
Purple Biotech just raised $2.8M via ADS offering. Cash infusion incoming.
AI Summary
On December 3, 2024, Purple Biotech Ltd. announced a registered direct offering to raise $2.8 million through the sale of American Depositary Shares. The company, formerly known as Kitov Pharma Ltd., is based in Rehovot, Israel.
Why It Matters
This capital infusion could fund further research and development, potentially advancing the company's drug pipeline.
Risk Assessment
Risk Level: medium — Direct offerings can dilute existing shareholders, and the success of the company depends on its drug development pipeline.
Key Numbers
- $2.8M — Registered Direct Offering (Capital raised by Purple Biotech Ltd.)
Key Players & Entities
- Purple Biotech Ltd. (company) — Filer and issuer of the offering
- $2.8 million (dollar_amount) — Amount to be raised in the registered direct offering
- December 3, 2024 (date) — Date of the press release announcing the offering
- Kitov Pharma Ltd. (company) — Former name of Purple Biotech Ltd.
FAQ
What is the purpose of the $2.8 million registered direct offering?
The filing does not specify the exact use of proceeds, but such offerings typically fund research, development, and general corporate purposes.
When was the press release announcing the offering issued?
The press release was issued on December 3, 2024.
What is Purple Biotech Ltd.'s former name?
Purple Biotech Ltd. was formerly known as Kitov Pharma Ltd.
Where is Purple Biotech Ltd. located?
The company's principal executive offices are located at 4 Oppenheimer Street, Science Park, Rehovot, Israel.
What type of securities are being offered in the direct offering?
American Depositary Shares (ADSs) are being offered.
Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 20 · Accepted 2024-12-03 16:00:22
Key Financial Figures
- $2.8 Million — lease, “ Purple Biotech Announces $2.8 Million Registered Direct Offering of American
Filing Documents
- ea0223428-6k_purplebio.htm (6-K) — 14KB
- ea022342802ex99-1_purplebio.htm (EX-99.1) — 16KB
- 0001213900-24-105029.txt ( ) — 31KB
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, thereunto duly authorized. December 3, 2024 PURPLE BIOTECH LTD. By: /s/ Gil Efron Gil Efron Chief Executive Officer 2