Benzinga | Aug 19, 2021 09:13AM EDT

180 Life Sciences Corp. Announces $15M Private Placement

180 Life Sciences Corp. (NASDAQ:ATNF) (180 Life Sciences or the "Company"), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, today announced that it has entered into securities purchase agreements with certain institutional investors to raise approximately $15.0 million through the private placement of 2,500,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,500,000 shares of common stock at a combined purchase price of $6.00 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $7.50 per share and will expire five years from the date of issuance. The closing of the private placement is expected to occur on August 23, 2021, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreements.