Synaptogenix Enters Into Securities Purchase Agreements For A $5M Financing With Existing Investors Involving The Sale Of 5,000 Shares Of Its Newly Issued Series C Convertible Preferred Stock, With A Stated Value Of $1,000 Per Share; The Shares Of Series C Preferred Stock Have An Initial Conversion Price Of $4.00 Per Share And Accrue A 5.0% Quarterly Dividend Payable In Cash
Synaptogenix, Inc. (NASDAQ:SNPX) ("Synaptogenix" or the "Company"), an emerging biopharmaceutical company developing therapeutics for neurodegenerative disorders, today announced today announced that it has entered into securities purchase agreements for a $5.0 million financing with existing investors involving the sale of 5,000 shares of its newly issued Series C convertible preferred stock ("preferred stock"), with a stated value of $1,000 per share, convertible into shares of its common stock in a registered public offering (the "Registered Offering") and a concurrent private placement (the "Private Placement" and collectively with the Registered Offering, the "Offering") of additional shares of Preferred Stock and unregistered common stock purchase warrants. The Offering is expected to close on or about September 12, 2024, subject to the satisfaction of customary closing conditions.
