SELLAS Life Sciences Prices Share Offering To Raise $9 Mln; Stock Tanks 35%

(RTTNews) - Shares of SELLAS Life Sciences Group, Inc. (SLS), a late-stage clinical biopharmaceutical company, tumbled on Thursday after the announcement of the pricing of a share offering of 12 million shares and accompanying warrants at $0.75 per share, to raise $9 million.

Currently, SELLAS's stock is falling 35.4%, to $0.5850 on a volume of 2,350,522 from its previous close of $0.9055. It has traded between $0.5801 and $4.13 in the past 52-week period.

The accompanying warrants will expire in five years after its issuance.

The offering will close on or about January 8, 2024, the company said in a statement.

A.G.P./Alliance Global Partners acts as sole placement agent for this offering.