Spartan Capital Securities, LLC Serves as Sole Placement Agent in Lipella Pharmaceuticals Inc.'s $875,500 Private Placement
New York, NY, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a premier investment banking firm, is pleased to announce the successful completion of two private placements for Lipella Pharmaceuticals Inc. (NASDAQ:LIPO). Spartan Capital Securities, LLC acted as the sole placement agent in these private offerings of Series B non-voting convertible preferred stock of Lipella Pharmaceuticals Inc., raising an aggregate total of $875,500 through the transactions.
The private placements were successfully completed, subject to customary closing conditions. The proceeds from these offerings will support Lipella's continued advancement of its clinical pipeline and general corporate purposes.
Jonathan Kaufman, PhD, CEO of Lipella Pharmaceuticals, continues to lead the company's efforts to address significant unmet medical needs with safe and effective therapies.
"We are proud to serve as the sole placement agent in these private placements for Lipella Pharmaceuticals," said John Lowry, CEO of Spartan Capital Securities. "Lipella's dedication to developing innovative therapies aimed at improving patient outcomes is inspiring. These successful transactions reflect both the strength of Lipella's clinical pipeline and Spartan Capital's commitment to facilitating impactful investment opportunities. We look forward to supporting Lipella's future growth and success."
Sichenzia Ross Ference Carmel LLP served as placement agent counsel, while Sullivan & Worcester LLP acted as counsel to Lipella Pharmaceuticals Inc.
Further details on the transactions will be available in the Company's Form 8-K, to be filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov.
The common shares and the common shares issuable upon the conversion of related warrants have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Until registered, these securities may not be offered or sold in the United States or any state absent registration or an applicable exemption from registration requirements.
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 where such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws.
About Spartan Capital Securities, LLC
Spartan Capital Securities, LLC is a premier full-service investment banking firm offering a comprehensive range of advisory services to institutional clients and high-net-worth individuals. Known for its expertise in capital raising, strategic advisory, and asset management, Spartan Capital delivers tailored solutions to meet clients' financial goals.
For more information about Spartan Capital Securities, visit www.spartancapital.com.
Contact: Spartan Capital Securities, LLC
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New York, NY 10006
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