Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Wed, September 28, 5:42 AM
|This Slide: #158 of 585|
Slide #158. Matinas BioPharma Holdings, Inc. — Preferred Stock Offering
Matinas BioPharma Holdings, Inc. (AMEX:MTNB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Matinas BioPharma Holdings, Inc. (NYSE AMER:MTNB), a clinical-stage biopharmaceutical company focused on enabling the delivery of life-changing medicines using its proprietary lipid nano-crystal (LNC) platform technology, today announced the pricing of a public offering of up to 8,000 shares of its newly designated Series B Convertible Preferred Stock, or the Series B Preferred, with a stated value of $1,000 per share and convertible into an aggregate of 16,000,000 shares of its common stock at a conversion price of $0.50 per share. Holders of the Series B Preferred will be entitled to receive dividends payable in shares of common stock equal to (i) 10% of the shares of common stock underlying the Series B Preferred then held by such holder on the 12-month anniversary of the offering, (ii) 15% of the shares of common stock underlying the Series B Preferred then held by such holder on the 24-month anniversary of the offering and (iii) 20% of the shares of common stock underlying the Series B Preferred then held by such holder on the 36-month anniversary of the offering.
Matinas Biopharma Holdings is a biopharmaceutical company focused on development of its product candidate: MAT9001, a purified, prescription-only omega-3 free fatty acid formulation designed for the treatment of cardiovascular and metabolic conditions; and the application of its lipid nano-crystal (LNC) platform delivery technology to solve challenges relating to the delivery of small molecules, vaccines, proteins and peptides. Co.'s lead drug candidate based on the LNC platform delivery technology is MAT2203, which is an antifungal drug. Co.'s second clinical stage LNC-based product candidate is MAT2501, an orally administered formulation of aminoglycoside antibiotic amikacin.
Open the MTNB Page at Preferred Stock Channel »
Free MTNB Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Strong Buy (4.00 out of 4)
(ranked higher than approx. 83% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com