Matinas Biopharma Holdings, Inc. Announces Private Placement Agreement and Board Appointment

On February 13, 2025, Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) disclosed in a Form 8-K filing with the Securities and Exchange Commission that it has entered into a Securities Purchase Agreement. The agreement involves the issuance and sale of an aggregate of 3,300 shares of the company’s Series C Convertible Preferred Stock along with warrants, with gross proceeds totaling $3.3 million. The initial closing of the offering, which took place on the same date, saw the purchase of 1,650 shares of Preferred Stock for $1.65 million.

The Preferred Stock, initially convertible into up to 5,631,404 shares of common stock, carries a stated value of $1,000 per share. The Purchase Agreement outlines the terms of the Offering, which includes customary representations, warranties, and closing conditions. Furthermore, the company is required to seek shareholder approval for the issuance of the Preferred Stock and Warrants in accordance with NYSE American LLC regulations.

These securities are being sold without registration, relying on specific exemptions under the Securities Act of 1933 and applicable state laws. The company is obligated to file a registration statement with the SEC to enable the resale of the shares of common stock underlying the Preferred Stock and Warrants.

Dr. Robin L. Smith, MD, MBA has been appointed to the Board of Directors as a new member, effective from the Initial Closing Date. Dr. Smith brings with her extensive experience in the biopharmaceutical industry, having held various leadership positions and founded multiple companies. The Company expressed its gratitude to Herbert J. Conrad, founding Chairman, who resigned from the Board and is set to retire. The Board has directed management to continue cost-reduction efforts while exploring strategic alternatives.

It is important to note that the completion of the second closing of the Offering and Dr. Smith’s board appointment are subject to certain conditions. For further details on the Offering and Dr. Smith’s background, the full 8-K filing is available on the SEC website.

For additional information regarding Matinas BioPharma and their product candidates, interested parties can visit their official website.

This news article was sourced from the Form 8-K filing submitted to the Securities and Exchange Commission by Matinas BioPharma Holdings, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Matinas Biopharma’s 8K filing here.

Matinas Biopharma Company Profile

Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. It develops products using its lipid nanocrystal (LNC) platform technology. The company’s LNC delivery technology platform utilizes lipid nano-crystals for the delivery of small molecules, nucleic acids, gene therapies, vaccines, proteins, and peptides.