Telomir Pharmaceuticals, Inc. [TELO] - Equity Issuance
Telomir Pharmaceuticals, Inc. issued shares at a purchase price of $1.16 per share, raising approximately $5.6 million in gross proceeds, with Alexander Capital, L.P. acting as the placement agent.
Why this matters
Telomir Pharmaceuticals, Inc., a Florida-based company in the pharmaceutical preparations industry, is advancing its lead investigational oral small molecule, Telomir-Zn, into human clinical trials for treating advanced or metastatic triple-negative breast cancer (TNBC). The company has raised approximately $5.6 million through a private investment in public equity (PIPE) financing, issuing shares at $1.16 each. This financing round, which did not include any investor warrants or convertible securities, was supported by existing significant shareholder John Paul DeJoria, who contributed an additional $1.0 million. Alexander Capital, L.P. acted as the placement agent for this equity issuance.