LEXINGTON, Mass.--(BUSINESS WIRE)--Xenetic Biosciences, Inc. (OTCQB: XBIO) (“Xenetic” or the “Company”), a
clinical-stage biopharmaceutical company focused on discovery, research
and development of next-generation biologic drugs and novel orphan
oncology therapeutics, today announced its common stock will begin
trading on The Nasdaq Capital Market under the symbol “XBIO” on November
7, 2016. The Company also announced the pricing of its public offering
of an aggregate of 2,424,242 units, consisting of (i) 484,849 units,
consisting of one share of Convertible Series B Preferred Stock and a
Class A Warrant to purchase one share of common stock and (ii) 1,939,393
units consisting of one share of Convertible Series B Preferred Stock
and a Class B Warrant to purchase one share of common stock, at a public
offering price of $4.125 per unit. The total expected gross proceeds of
the public offering are approximately $10 million before the
underwriter's discount and expenses.
In connection with its new listing on The Nasdaq Capital Market,
November 4, 2016 will be the last day Xenetic’s common stock will trade
on the OTCQB.
Ladenburg Thalmann & Co. Inc. acted as the sole book running manager for
The net proceeds from this offering will be used to fund the research
and development of Xenetic’s product candidates, including Virexxa, as
well as future development programs, potential in licensing of products
or technology, capital expenditures, working capital, repayment of
existing indebtedness, and other general corporate purposes.
The offering is expected to close on November 7, 2016, subject to
customary closing conditions.
A registration statement on Form S-1 relating to the shares and warrants
was filed with the Securities and Exchange Commission (“SEC”) and has
been declared effective. A preliminary prospectus relating to the
offering has been filed with the SEC and is available on the SEC's web
site at http://www.sec.gov.
Copies of the final prospectus relating to the offering, when available,
may be obtained from the offices of Ladenburg Thalmann & Co. Inc., 570
Lexington Avenue, 11th Floor, New York, NY 10022, telephone: (212)
409-2000 or email firstname.lastname@example.org
or the above-referenced SEC website.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale is not permitted.
About Xenetic Biosciences
Xenetic Biosciences, Inc. is a clinical-stage biopharmaceutical company
focused on discovery, research and development of next-generation
biologic drugs and novel oncology therapeutics. Xenetic's proprietary
drug technology platforms include PolyXen®, designed to develop next
generation biologic drugs by extending the efficacy, safety and
half-life of biologic drugs.