Sichenzia Ross Ference LLP Represents Equillium, Inc. in a $30 Million Registered Direct Offering
Press Release – New York, NY – February 8, 2021 – Sichenzia Ross Ference LLP announced today that it has represented Equillium, Inc. (NASDAQ:EQ) in a registered direct offering with life science institutional investment funds managed by Decheng Capital that purchased 4,285,710 units (the “Units”) from Equillium, with each Unit consisting of one share of common stock and a warrant to purchase 0.3 of a share of common stock. The purchase price per Unit is $7.00, priced above the market under Nasdaq rules. The warrants will have an exercise price of $14.00 per share, will be immediately exercisable, and will expire on the earlier of (i) the fifth anniversary of issuance, or (ii) the 15th calendar date following the date on which Equillium closes a financing raising a minimum of $25 million at a price per share of no less than $25.00.
The Units were sold by the Company pursuant to a “shelf” registration statement on Form S-3 (333-234683) filed with the SEC.
Equillium is a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders
The Sichenzia Ross Ference LLP team was led by partners Marc J. Ross and James M. Turner and associate Jacob Tabman.
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