Can-Fite BioPharma Ltd. (CANF), a clinical-stage biotech firm focused on treatments for cancer and inflammatory diseases, has priced a public offering with a single institutional investor.
The deal includes 8,333,333 American Depositary Shares (ADSs) or pre-funded warrants, along with short-term warrants to purchase up to 16,666,666 ADSs, all offered at a combined price of $0.60 per unit. The short-term warrants are exercisable immediately at $0.60 per ADS and will expire 24 months from the date of issuance. The offering is expected to close on or around July 29, 2025, pending customary closing conditions.
Can-Fite anticipates gross proceeds of approximately $5 million from the offering, before fees and expenses. If all short-term warrants are exercised for cash, the company could gain an additional $10 million. However, there is no guarantee that the warrants will be exercised. The company plans to use the net proceeds to support R&D efforts, clinical trials, and general corporate operations.
CANF currently trades at $0.7045 or 28.1122% lower on the NYSE American.
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