Sunshine Biopharma, Inc. Announces Closing of $8 Million Public Offering and Uplisting to the Nasdaq Capital Market
February 17 2022 - 9:07AM
Sunshine Biopharma, Inc. (NASDAQ: “SBFM” and “SBFMW”) (the
“Company” or “Sunshine Biopharma”), a pharmaceutical company
focused on the research, development and commercialization of
oncology and antiviral drugs, announced today the closing of its
underwritten public offering of 1,882,353 units at a price to the
public of $4.25 per unit, for aggregate gross proceeds of $8
million, prior to deducting underwriting discounts, commissions and
other estimated offering expenses. Each unit consists of one share
of common stock, par value $0.001 per share, and two warrants, each
warrant exercisable for one share of common stock with an exercise
price of $4.25.
In addition, the Company has granted Aegis Capital Corp.
(“Aegis”) a 45-day option to purchase additional shares of common
stock and/or warrants equal up to 15% of the number of shares and
warrants, respectively, sold in the offering solely to cover
over-allotments, if any. The underwriter partially exercised its
over-allotment option with respect to 337,494 warrants to purchase
shares of common stock. At the closing, the Company issued an
aggregate of 1,882,353 common shares and 4,102,200 warrants to
purchase common shares.
The Company’s common stock and warrants are listed on the Nasdaq
Capital under the symbols “SBFM” and “SBFMW”, respectively.
Aegis Capital Corp. acted as sole book-running manager
for the offering.
A registration statement on Form S-1 (No. 333-259394) relating
to the securities being sold in this offering was declared
effective by the Securities and Exchange Commission (the “SEC”) on
February 14, 2022. The offering has been made only by means of a
prospectus. Copies of the final prospectus may be obtained on the
SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New
York, NY 10019, by email at syndicate@aegiscap.com, or by telephone
at (212) 813-1010.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Sunshine Biopharma
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is
the causative agent of the ongoing COVID-19 pandemic that has
claimed the lives of over 5.3 million people worldwide since it
first appeared in December 2019. There are currently no drugs that
can effectively arrest replication of the virus in people who have
contracted the illness. Sunshine Biopharma has completed the
synthesis of four potential inhibitors of PLpro and subsequently
identified a lead compound, SBFM-PL4. The Company is currently
advancing the development of SBFM-PL4 in collaboration with the
University of Georgia, College of Pharmacy.
In addition, to working on the development of a treatment for
COVID-19, Sunshine Biopharma is engaged in the development
Adva-27a, a unique anticancer compound. Tests conducted to date
have demonstrated the effectiveness of Adva-27a at destroying
Multidrug Resistant Cancer Cells, including Pancreatic Cancer
cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and
Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer
indication are planned to be conducted at McGill University’s
Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is
owner of all patents and intellectual property pertaining to
Adva-27a.
Safe Harbor Forward-Looking Statements
This press release may contain forward looking statements which
are based on current expectations, forecasts, and assumptions that
involve risks as well as uncertainties that could cause actual
outcomes and results to differ materially from those anticipated or
expected. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, including statements related to our
financial performance and future growth. These risks and
uncertainties are further defined in filings and reports by the
Company with the U.S. Securities and Exchange Commission (SEC).
Actual results and the timing of certain events could differ
materially from those projected in or contemplated by the
forward-looking statements due to a number of factors detailed from
time to time in our filings with the SEC. Reference is hereby made
to cautionary statements and risk factors set forth in the
Company's most recent SEC filings.
For Additional Information Contact:
Camille Sebaaly, CFO
Sunshine Biopharma Inc.
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com
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