Seelos Therapeutics Announces Pricing of $1.1 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules

New York, May 16, 2024 /PRNewswire/ — Selous Therapeutics (NASDAQ:), Inc. (Nasdaq: SEEL) (“Seelos” or the “Company”), a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system (“CNS”) disorders and rare diseases, announced today that it has entered into a securities purchase agreement agreement with certain investors. Institutional Institutions, which provides 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 $2.46 For each share (or $2,459 per pre-funded order) in a live bid registered at market price under Nasdaq rules, resulting in total gross proceeds of approx $1.1 millionBefore deducting placement agent fees and other estimated offering expenses.

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

The registered direct offering and concurrent private placement are expected to close on or about to close May 21, 2024taking into account the fulfillment of the usual closing conditions.

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

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

The registered direct offering of shares of common stock and pre-funded warrants described above is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-276119) previously filed with US Securities and Exchange Commission (the “second“) on December 18, 2023as previously declared effective second on December 27, 2023. Shares of common stock and pre-funded warrants are being offered in a registered direct offering only by prospectus. A prospectus supplement and accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with second It will be available on sec Website on www.sec.gov. When available, copies of the prospectus supplement and accompanying prospectus relating to the registered direct offering may also be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, by calling (800) 678-9147 or by email at rothecm@roth.com.

The private placement of the unregistered warrants and shares of common stock issuable upon exercise of the unregistered warrants described above is being offered in a private placement pursuant to Section 4(a)(2) of the Securities Exchange Act of 1933, as amended (the “Act”). “), and/or Regulation D issued thereunder and has not been registered under the Act or applicable securities laws of the State. Accordingly, the unregistered notes and shares of common stock issuable upon exercise may not be offered or sold. United State Except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and applicable state securities laws.

This press release shall 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 registration or qualification under the securities laws of any such state or jurisdiction. Like this.

on Selous Treatments:

Selous Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics to address unmet medical needs for patients with central nervous system 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 Early. in Huntington Alzheimer's disease and Parkinson's disease.

Forward-looking statements:

Statements in this press release, which are not historical in nature, constitute forward-looking statements regarding Seelos for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the completion of the offering and the expected proceeds from the offering and use these proceeds. These statements are based on our current expectations and beliefs and are subject to a number of factors, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions, our ability to satisfy the closing conditions applicable to the offering, and our intended use of proceeds from the offering, as well as the risk factors and other matters set forth in our periodic filings with the offering. secondincluding our Annual Report on Form 10-K for the year ended December 31, 2023subsequent quarterly reports on Form 10-Q, including Seelos' quarterly report on Form 10-Q for the quarter ended March 31, 2024the prospectus supplement and the accompanying prospectus relating to the public offering to be submitted to second. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove to be correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if later made available by us on our website or otherwise. We undertake no obligation to update, revise or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

contact information:

Anthony MarcianoChief Communications Officer
Selous Therapeutics Inc (NASDAQ:SIL)
300 Park Avenue2nd Floor
New York, New York 10022
(646) 293-2136
anthony.marciano@seelostx.com

Mike MuirGeneral Director
LifeSci Advisors, LLC
250 West 55th StreetSuite 3401
New York, New York 10019
(617) 308-4306
mmoyer@lifesciadvisors.com