Investor to purchase $2M in Statera stock

FORT COLLINS —  Statera Biopharma Inc. (Nasdaq: STAB), a pharmaceutical company developing immune therapies that focus on immune restoration and homeostasis, has signed a securities purchase agreement with an institutional investor to purchase approximately $2 million worth of its common stock and warrants.

The institutional investor has not been named.

Under terms of the agreement, Statera will sell approximately two million shares of its common stock and warrants to purchase approximately two million shares of common stock in a registered direct offering. The warrants will be exercisable immediately, have an exercise price of $1 per share, and will expire five years from the initial exercise date. The purchase price for one share of common stock and one warrant will be $1.

Gross proceeds to the company are estimated to be approximately $2 million, before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close Feb. 9, subject to customary closing conditions.

EF Hutton, division of Benchmark Investments LLC, is acting as exclusive placement agent for the offering. Bridgeway Capital Partners is acting as Statera’s financial adviser.

Anthony L.G. PLLC is acting as legal counsel to Statera, and Carmel, Milazzo & Feil LLP is acting as legal counsel to EF Hutton for the offering.

The offering is being made pursuant to a “shelf” registration statement filed with the U.S. Securities and Exchange Commission and declared effective by the SEC on May 29, 2020.

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