Seelos Therapeutics Prices of $1.1 Million Registered Direct Offering and Concurrent Private Placement

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 that it has entered into a securities purchase agreement with certain institutional investors, providing for the purchase and sale of 380,968 shares of common stock and pre-funded warrants to purchase up to 81,239 shares of common stock at a price of $2.46 per share (or $2.459 per pre-funded warrant) in a registered direct offering priced at-the-market under Nasdaq rules, resulting in total gross proceeds of approximately $1.1 million, before deducting the placement agent’s fees and other estimated offering expenses.

The Company also agreed to issue to the investors unregistered warrants to purchase up to 924,414 shares of common stock in a concurrent private placement. The warrants will have an exercise price of $2.21 per share of common stock, will be immediately exercisable upon issuance and will expire five years following the initial date of exercise.

The registered direct offering and concurrent private placement are expected to close on or about May 21, 2024, subject to the satisfaction of customary closing conditions.

Seelos currently intends to use the net proceeds from the offering for general corporate purposes, the advancement of the development of its product candidates and to make periodic principal and interest payments under, or to repay a portion of, its outstanding convertible promissory note.

Roth Capital Partners is acting as the sole placement agent for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Seelos Therapeutics:

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with CNS disorders and other rare diseases. The Company’s robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and Spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington’s disease, Alzheimer’s disease, and Parkinson’s Disease.