Press Release – New York, NY – May 16, 2023 – Sichenzia Ross Ference LLP announced today that it represented Sunshine BioPharma, Inc. (Nasdaq: SBFM) (the “Company”), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas, in its private placement. The Company issued 5,952,381 units at a purchase price of $0.84 per unit priced at-the-market under NASDAQ rules. Each unit or pre-funded unit consists of one share of common stock (or pre-funded warrant) and two non-tradable warrants each exercisable for $0.59 for one share of common stock, for a total of 11,904,762 shares underlying the warrants The gross proceeds were $5.0 million before deducting fees to the placement agent and other offering expenses payable by the Company.
The Sichenzia Ross Ference LLP team was led by partners Gregory Sichenzia and Jeff Cahlon, associate Matthew Siracusa and law clerk Anastasia Hayes.
