LA JOLLA, Calif., Feb. 05, 2021 (GLOBE NEWSWIRE) -- Equillium, Inc. (Nasdaq: EQ) a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, today announced the closing of its previously announced registered direct offering with life science institutional investment funds managed by Decheng Capital, to purchase 4,285,710 units (the “Units”) from Equillium, with each Unit consisting of one share of common stock and a warrant to purchase 0.3 of a share of common stock. The purchase price per Unit was $7.00, priced above the market under Nasdaq rules. The warrants have an exercise price of $14.00 per share, are immediately exercisable, and will expire on the earlier of (i) the fifth anniversary of issuance, or (ii) the 15th calendar date following the date on which Equillium closes a financing raising a minimum of $25 million at a price per share of no less than $25.00.

Read more here:
Equillium Announces Closing of $30 Million Registered Direct Offering