InvestmentMay 5, 2026, 02:26 PM
Palomino Labs Raises $1.88M in Second Private Placement Closing
AI Summary
Palomino Laboratories Inc. announced the second closing of its private placement, raising an additional $1,880,000.00 through the sale of 470,000 shares to accredited investors. This brings the total proceeds from the offering to $16,975,412.00. Laidlaw & Company (UK) Ltd., as the placement agent, received cash fees, expense reimbursements, and 374,761 warrants with an exercise price of $4.80 per share.
Key Highlights
- Completed second closing of private placement, raising an additional $1,880,000.00.
- Sold 470,000 shares of common stock in the second closing at $4.00 per share.
- Total proceeds from the private placement reached $16,975,412.00 across both closings.
- Placement agent received 374,761 warrants to purchase common stock.
- Warrants have an exercise price of $4.80 per share and a 5-year term.
- The offering was made to accredited investors under Section 4(a)(2) and Rule 506.
Price Impact
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