Seelos Therapeutics Announces Proposed Public Offering

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Seelos Therapeutics, Inc. (Nasdaq: SEEL) has announced the commencement of an underwritten public offering of shares of its common stock and accompanying common warrants, with the intention to grant the underwriters a 45-day option to purchase additional shares. The offering is subject to market conditions and is being made pursuant to an effective 'shelf' registration statement on Form S-3. The company will use the proceeds from the offering for general corporate purposes and working capital.

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that it has commenced an underwritten public offering of shares of its common stock (or pre-funded warrants to purchase shares of its common stock in lieu thereof) and accompanying common warrants to purchase shares of its common stock. Seelos also intends to grant the underwriters a 45-day option to purchase up to an additional 15% of the aggregate number of shares of its common stock (or pre-funded warrants) and/or the common warrants to be sold in the offering on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the shares of common stock, pre-funded warrants and accompanying common warrants to be sold in the proposed offering will be sold by Seelos.

Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the proposed offering.

The offering is being made pursuant to an effective "shelf" registration statement on Form S-3 (File No. 333-251356) previously filed with the Securities and Exchange Commission (the "SEC") on December 15, 2020, as amended on December 22, 2020, and declared effective by the SEC on December 23, 2020. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by visiting the SEC's website at www.sec.gov or by contacting Titan Partners Group, LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at info@titanpartnersgrp.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Seelos Therapeutics

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington's disease, Alzheimer's disease, and Parkinson's disease.

Forward-Looking Statements

Statements made in this press release, which are not historical in nature, constitute forward-looking statements related to Seelos for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements regarding the proposed underwritten public offering. These statements are based on our current expectations and beliefs and are subject to a number of factors, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions and our ability to satisfy closing conditions applicable to the proposed offering, as well as other risk factors and matters set forth in our periodic filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q, including Seelos' Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and the preliminary prospectus supplement and the accompanying prospectus related to the proposed public offering to be filed with the SEC on or about the date hereof. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

Anthony Marciano
Chief Communications Officer
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue, 2^nd Floor
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com

Mike Moyer
Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
New York, NY 10019
(617) 308-4306
mmoyer@lifesciadvisors.com 

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SOURCE Seelos Therapeutics, Inc.

FAQ

What is the latest announcement from Seelos Therapeutics, Inc. (Nasdaq: SEEL)?

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has announced the commencement of an underwritten public offering of shares of its common stock and accompanying common warrants.

What is the purpose of the underwritten public offering by Seelos Therapeutics, Inc. (Nasdaq: SEEL)?

The company intends to use the proceeds from the offering for general corporate purposes and working capital.

What is the registration statement under which the offering is being made by Seelos Therapeutics, Inc. (Nasdaq: SEEL)?

The offering is being made pursuant to an effective 'shelf' registration statement on Form S-3 (File No. 333-251356) previously filed with the Securities and Exchange Commission.

Who is the sole book-running manager for the proposed offering by Seelos Therapeutics, Inc. (Nasdaq: SEEL)?

Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the proposed offering.