Benzinga | Dec 10, 2020 05:44AM EST

Xenetic Bioscienced Announced ~2.45M Shares Registered Direct Offering Priced at $2.45/Share

Xenetic Biosciences, Inc. (NASDAQ:XBIO) announced today that it has entered into a securities purchase agreement with several institutional and accredited investors providing for the purchase and sale of 2,448,980 shares of the Company's common stock at a purchase price of $2.45 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to result in gross proceeds to Xenetic of approximately $6.0 million before deducting placement agent fees and other offering expenses payable by Xenetic.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.