Seelos Therapeutics Announces Pricing of $5 Million Public Offering of Common Stock

NEW YORK, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, announced today the pricing of an underwritten public offering of 6,666,667 shares of its common stock, at a price to the public of $0.75 per share. In addition, the Company granted the underwriters a 45-day option to purchase up to 999,999 additional shares of its common stock to cover over-allotments, if any. All of the shares of common stock in the offering are being sold by Seelos.
Raj Mehra, Ph.D., the President, Chief Executive Officer and Chairman of the Board of Directors of Seelos, intends to purchase shares in the offering at the public offering price.Benchmark Company is acting as sole book-running manager for the offering.Seelos anticipates the aggregate net proceeds from the offering will be approximately $4.3 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Seelos, but excluding any exercise of the underwritersa?? option to purchase additional shares of common stock. Seelos intends to use the net proceeds from the offering for general corporate purposes and to advance the development of its product candidates. This offering is expected to close on or about February 13, 2020, subject to the satisfaction of customary closing conditions.The securities described above were offered by Seelos pursuant to a registration statement on Form S-1 (File No. 333-236002) previously filed with the Securities and Exchange Commission (the a??SECa??) and declared effective by the SEC on February 10, 2020.A  The securities may be offered only by means of a prospectus forming part of the effective registration statement.A  A preliminary prospectus relating to and describing the offering has been filed with the SEC. Electronic copies of the preliminary prospectus and, when available, copies of the final prospectus relating to the offering may be obtained by visiting the SECa??s website at or by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by calling (212) 312-6700 or by e-mail at
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