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Quotes delayed 20 minutes
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Strong Buy (4.00 out of 4)
88th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, December 13, 10:11 AM
Slide #50. Matinas BioPharma Holdings, Inc. — Preferred Stock Offering
| Company: |
Matinas BioPharma Holdings, Inc. (AMEX:MTNB) |
| Date announced: |
6/19/2018 |
| Shares Offered: |
8,000 |
| Date of Pricing: |
6/19/2018 |
| Price Per Share: |
$1,000.00 |
| 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 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, gene therapies, vaccines, proteins and peptides. Co.'s LNC platform product candidate, MAT2203, is an orally-administered LNC formulation of an anti-fungal drug. Co.'s second clinical stage LNC-based product candidate is MAT2501, an orally administered, cochleate formulation of aminoglycoside antibiotic amikacin.
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