Telomir Raises $5.6M PIPE at $1.16/Share; DeJoria Adds $1M to Fund TNBC Trial
TELO sits 44% above its 52-week low of $0.888.
Summary
Telomir closed a $5.6 million PIPE at $1.16 per share, a 5% discount to the 10-day VWAP, with no warrants or convertible features. Billionaire John Paul DeJoria increased his stake by $1 million, signaling continued insider conviction. Proceeds will fund the Phase 1/2 TNBC trial and working capital, addressing the going-concern risk flagged in the Q2 10-Q. The financing strengthens the balance sheet as the company advances its lead asset into clinical development. Placement agent Alexander Capital received a 9% cash fee (~$455,000) and 387,464 warrants at $1.16, and the company agreed to file a resale registration statement within 30 days.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The 8-K discloses placement agent Alexander Capital received a 9% cash fee (~$455,000) and 387,464 warrants at $1.16, and the company agreed to file a resale registration statement within 30 days.
At the time of this announcement, TELO was trading at $1.28 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $83.2M. The 52-week trading range was $0.89 to $2.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.