Press Release – New York, NY – March 22, 2017 – Sichenzia Ross Ference Kesner LLP announced today that it has represented XTL Biopharmaceuticals Ltd. (“XTLB. NASDAQ”), an Israeli biopharmaceutical company engaged in the acquisition and development of pharmaceutical drugs for the treatment of lupus and other autoimmune diseases, in a private placement offering with existing investors where XTLB issued 1,400,000 American Depository Shares (ADSs) at a purchase price of $2.00 per ADS.
In connection with the offering, the investors will receive unregistered warrants to purchase 1,400,000 ADSs. The warrants have an exercise price of $2.30 per ADS. XTLB received approximately $2.8M in gross proceeds from the offering.
The Sichenzia Ross Ference Kesner LLP team was led by Partners Gregory Sichenzia and Avital Perlman and Counsel, Jeff Cahlon. There was no placement agent engaged in connection with this offering.
