Hillstream BioPharma, Inc. (Nasdaq: HILS) is thrilled to announce the launch of an underwritten public offering of 5,300,000 shares of its common stock. With each share being offered to the public at a price of $0.50, the Company will be able to raise gross proceeds of $2,650,000, before deducting underwriting discounts and offering expenses.
In addition, the underwriters have been granted a 45-day option to purchase up to an additional 795,000 shares to cover over-allotments at the public offering price, less the underwriting discount. The offering is expected to close on May 2, 2023, pending satisfaction of customary closing conditions.
The Company plans to deploy the proceeds from this offering to promote the progression of HSB-1216, as well as other potential products in the Company’s pipeline. Additionally, these funds will be used to finance general corporate requirements and bolster working capital.
ThinkEquity is proudly taking the lead role in the offering, acting as the sole book-running manager. This is an exciting opportunity to be a part of, as ThinkEquity is committed to providing the best possible service to ensure a successful offering.
The offering of these securities is being made through a shelf registration statement on Form S-3 (File No. 333-270684), filed and declared effective by the U.S. Securities and Exchange Commission (SEC) on March 17, 2023 and March 24, 2023 respectively. A preliminary prospectus supplement and accompanying prospectus that outlines the terms of the offering have been filed with the SEC and made available on their website.
A final prospectus supplement and accompanying prospectus can be obtained from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, when available. Don’t miss out on this exciting opportunity to invest in these securities!
These securities cannot be sold or purchased in any state or jurisdiction without first registering or qualifying under the securities laws of the state or jurisdiction. Don’t miss out on this amazing opportunity to invest in these securities, and take advantage of all the potential benefits that come along with it!
Hillstream BioPharma, Inc. is a biotechnology leader in the development of therapeutics for drug resistant and devastating cancers. In the second half of 2023, the Company plans to initiate a clinical study for HSB-1216, a therapeutic candidate that targets ferroptosis – an emerging new anti-cancer mechanism – resulting in iron mediated cell death (IMCD).
Additionally, the Company’s immuno-oncology pipeline is led by HSB-3215, a unique anti-HER2 monoclonal antibody targeting distinct epitopes with a new mechanism of action. The HER family of cell surface proteins are prevalent in multiple solid tumors, including breast, lung, GYN, endocrinological and CNS. Hillstream BioPharma is revolutionizing the fight against drug-resistant cancers.