PolyPid Ltd. announced that it has entered into a securities purchase agreement for a private placement financing to issue 3,371,312 of the Company?s ordinary shares at an issue price of $4.81 per share for the gross proceeds of $16,216,010.72 on January 4, 2024. The transaction will include participation from new and existing investors, including participation from new U.S. life sciences-focused investors, DAFNA Capital Management and Rosalind Advisors. The investors will also receive warrants to purchase up to 3,371,312 Ordinary Shares at an exercise price of $5.50 per share.

The warrants expire upon the earlier of two years from the date of issuance Exercise of the warrants in full would result in an additional $18,500,0000 in gross proceeds to the Company.