Sunshine Biopharma (NASDAQ: SBFM), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals, has closed on a firm commitment underwritten public offering. The offering is comprised of 71,428,571 units, including 26,428,571 common units and 45,000,000 prefunded units. According to the announcement, the offering is projected to result in approximately $10 million gross proceeds, before the deduction of underwriting discounts and other estimated expenses. Sunshine Biopharma also granted Aegis Capital Corp. a 45-day option to purchase additional shares of common stock, prefunded warrants and Series A warrants or Series B warrants sold in the offering, to cover overallotments. The company expects to use the net proceeds from the offering for general corporate purposes and working capital. Aegis Capital Corp. acted as the sole book-running manager for the offering.
To view the full press release, visit https://ibn.fm/VPd8Q
About Sunshine Biopharma Inc.
Sunshine Biopharma through its subsidiary Nora Pharma Inc. has 51 generic prescription drugs on the market in Canada and 32 additional drugs scheduled to be launched in Canada in 2024 and 2025. In addition, Sunshine Biopharma is conducting a proprietary drug-development program that is comprised of K1.1 mRNA for liver cancer and PLpro protease inhibitor for SARS Coronavirus infections. For more information, visit the company website at www.SunshineBiopharma.com.
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