180 Life Sciences to Raise $15 Million in Private Placement

By Chris Wack

180 Life Sciences Corp. said it has entered into securities purchase agreements with certain institutional investors to raise $15 million through the private placement of 2.5 million common shares.

The company is also offering accompanying warrants to purchase up to 2.5 million shares, at a combined purchase price of $6 a share and accompanying warrant.

The warrants will be exercisable immediately at an exercise price of $7.50 a share and will expire five years from the date of issuance.

The closing of the private placement is expected to occur Aug. 23.

180 Life Sciences shares were down 25% to $5.18 in premarket trading.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

08-19-21 0941ET