ROTH Capital Partners Acts as Sole Placement Agent for
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
in its $6.7 Million Registered Direct

   

For more information please contact:
 
Investment Banking
James Antonopoulos
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1906
jantonopoulos@roth.com
 
Eric B. Cheng
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1901
echeng@roth.com

 
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
 
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
 
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com

Transaction Information
Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company, has closed a sale of 4,475,000 shares of common stock, with certain institutional investors. The shares were sold at a price of $1.50 per share in a registered direct offering, resulting in total gross proceeds of approximately $6.7 million.

Seelos Therapeutics also agreed to issue the investors unregistered warrants to purchase up to 2,237,500 shares of common stock in a concurrent private placement. The warrants have an exercise price of $1.78 per share of common stock, will be exercisable six months from the date of issuance and will expire four years following the date of issuance.

In connection with the registered direct offering and concurrent private placement, Seelos Therapeutics required each investor to enter into a leak-out agreement until September 20, 2019. After giving effect to the leak-out agreements, each such investor is limited to a specified percentage of the trading volume on each trading day during the restricted period. The maximum percentage of the trading volume that an investor may sell is its pro rata portion of 35%. Sales of common stock over $3.00 per share will be excluded from the leak-out restrictions.

Seelos Therapeutics intends to use the proceeds from the offering for general corporate purposes and to advance the development of its product candidates.

ROTH Capital Partners acted as the sole placement agent for the offering.

About Seelos Therapeutics, Inc.
Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare disorders. The Company's robust portfolio includes several late-stage clinical assets targeting psychiatric and movement disorders, including orphan diseases. Seelos is based in New York, New York. For more information, please visit www.SeelosTx.com. (Source: Company Press Release | 8/23/19)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 8/27/19

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2019.